XRP is at risk of falling below the $1 mark, with a critical support level at $0.79 under pressure. Analyst Ali Martinez highlights that support and resistance levels below $1.77 are weakening, according to UTXO realized price data from Glassnode. The majority of XRP's supply is concentrated at higher price levels, while demand significantly decreases below $1.77.
Currently trading at $1.95, XRP has gained 4.5% in the past 24 hours but remains down 4% over the week, trading below key moving averages. Intermediate support levels at $1.41, $1.27, and $1.01 provide limited assistance as the cryptocurrency faces potential further declines.
XRP Faces Potential Decline to $0.79 Amid Weakening Support
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
