XRP is at risk of falling below the $1 price mark as the latest onchain data showcased by popular crypto analyst Ali Martinez shows that XRP has formed new support around $1.06.
The analyst shared data revealing that $1.06 has become XRP’s current support level after the latest market correction, as over 830 million XRP were previously acquired at this level.
XRP may lose $1 mark
Martinez noted that XRP is flashing signs of a bigger price dip, which could cause it to lose the $1 mark, highlighting its next support levels, which are well below $1.
Meanwhile, the analyst further revealed historic data showing that a massive 1.16 billion XRP was previously moved around $0.62. This means that XRP may fall as low as $0.63 if its new support fails to hold.
The analyst highlighted $1.06, $0.80, $0.62, and $0.51 as key price levels for XRP, which tend to play crucial roles in the asset’s potential price movements.
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It is important to note that these prices are significant because they mark levels where heavy trading activity has been recorded in the past. Hence, they have become crucial prices to watch because they reflect zones where many investors entered the market.
Apparently, these levels often act as support when prices are retested, as they help to slow down selling pressure or boost momentum to fuel demand.
XRP loses new support
With recent volatility still persistent, XRP has continued to plunge lower and has just retested $1.01, a level last seen in November 2024.
As such, it appears that XRP has lost its current support and may be headed for its next support around $0.80, potentially losing the $1 mark.
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