Crypto analyst Ali Martinez said that after testing a critical support zone, the XRP price managed to break through the resistance level, and the $1.70 level has come into play in the short t
Crypto analyst Ali Martinez said that after testing a critical support zone, the XRP price managed to break through the resistance level, and the $1.70 level has come into play in the short term.
According to Martinez’s analysis, XRP experienced a strong rally of approximately 71.8%, rising from $0.988 to $1.698. Following this move, XRP underwent a correction of about 20%, retreating to a key demand zone where investors were heavily trading.
The analyst pointed to on-chain cost distribution data similar to URPD (UTXO Realized Price Distribution), noting that approximately 3.2 billion XRP changed hands in the $1.35-$1.38 range. According to Martinez, this region is one of the most important support levels for XRP.
If this support level is maintained, the key resistance levels in upward movements are as follows:
Martinez believes that a break above the $1.86 level could be particularly significant for the price. According to the analyst, a strong break above this region could pave the way for a new upward move for XRP towards $2.19. It is noted that approximately 3.12 billion XRP changed hands around the $2.19 level previously.
In a subsequent post, the analyst stated that XRP had broken through short-term resistance, adding that “the breakout has been confirmed.” Martinez indicated $1.70 as the next target in the current technical outlook.
XRP is trading at around $1.41 at the time of writing and has gained approximately 1.37% in value over the last 24 hours.
*This is not investment advice.
Continue Reading: Experienced Analyst: “XRP Has Surpassed the Expected Level—Here’s the Next Target!”
