XRP's 20% Pullback Tests Critical Support Zone

XRP's recent 20% pullback has some investors wondering if its price target of $2 is still within reach. Analyst Ali Martinez points out that a crucial support zone lies between $1.31 and $1.38, where more than 4.8 billion XRP were previously acquired.

A bullish flag pattern is forming on the hourly timeframe with support at this same zone, increasing the chances of a breakout above $1.38, which would put $2 back in focus.

The resistance levels to clear on the way up include $1.60, where nearly 2 billion XRP changed hands previously, and $1.86, where 3.47 billion XRP traded.