XRP is holding near $2.45 after sliding more than 13% over the past week, following a sharp market correction that erased almost $1 from its October highs. Despite the pullback, the token continues to defend the $2.40 support, suggesting that dip buyers may be stepping back in.
Market volatility remains high, but sentiment appears to be stabilizing as traders assess whether this consolidation marks the end of the recent downturn, or the start of a broader trend reversal. XRP’s market capitalization now sits at roughly $146.9 billion, ranking it as the fifth-largest cryptocurrency, according to CoinMarketCap.
Analyst Ali Charts: $2 Retest Possible Before Recovery
Crypto analyst Ali Martinez highlighted that XRP’s short-term structure could still test the $2.00 zone before mounting a sustained rebound.
His TradingView analysis points to support at $2.10 and resistance near $2.80, levels confirmed by Glassnode’s UTXO Realized Price Distribution (URPD) data.
Ali noted that a decisive breakout above $3.10 would likely invalidate the current bearish setup and open the path toward higher targets. Until then, traders remain divided — some expect a brief dip toward $2, while others see the correction as the final shakeout before a larger upside move.
On-Chain Metrics Show Accumulation and Reduced Activity
Despite the recent volatility, on-chain data paints a cautiously bullish picture. Exchange inflows have dropped notably, signaling whale accumulation as large holders move assets off exchanges. Meanwhile, active addresses have fallen to 36,000, far below their 612,000 peak, indicating reduced trading but stronger long-term conviction among investors.
The Relative Strength Index (RSI) currently reads 62, showing moderate bullish momentum that could strengthen if trading volume increases. Analysts view these metrics as early signs of stabilization, suggesting that selling pressure may be waning.
If XRP manages to reclaim the $3.10 resistance, analysts believe it could trigger a bull flag breakout, targeting as high as $4.60 in the coming weeks. For now, XRP sits at a critical inflection point, whether it drops to $2 or jumps toward $4 may depend on how quickly confidence returns to the broader crypto market.