XRP Holds Key Support After 68% Drop, Traders Eye Next Move

TLDR:

• XRP trades at $1.13 after a steep 68% drop from its prior $3.66 cycle peak.
• 24-hour trading volume rose 4.83%, reaching a total of $868.27 million in activity.
• Trader Diana points to $1.10–$1.30 as a key accumulation zone on the weekly chart.
• Cryptollica says this XRP washout has only occurred twice before in 13 years.

XRP changed hands at $1.13, down 1.06% over 24 hours. Trading volume hit $868.27 million, a jump of 4.83%. 

The token has now fallen 68% from its cycle high of $3.66. That high was set during a previous rally phase. The pullback has reset trader expectations across social media.

XRP Price Holds Support Zone After Steep Correction

The $1.10 to $1.30 range has become a focal point for traders. Crypto commentator Diana, who posts as @InvestWithD on X, said this zone represents an accumulation area. She argued the broader weekly chart structure still points upward despite the drop.

Diana outlined several upside levels in her post. She cited $2.00 to $2.50 as first resistance, and $3.66 as a retest of the previous cycle high. In addition, she highlighted the $5.00 to $6.00 price zone as a possible range for price discovery.

She also flagged $8.17 as a Fibonacci extension target. A further level near $17.15 appeared in her post as a long-term channel projection. Diana described $0.40 to $0.60 as a deeper macro support zone if the current range fails.

Separately, an account posting as @Cryptollica framed the current setup differently. The post claimed XRP has only seen this level of washout three times in 13 years. It suggested past instances of heavy pessimism preceded later rallies.

Trading Activity Reflects Mixed Sentiment Among Holders

Circulating supply for XRP sits at 62.05 billion tokens, against a max supply of 100 billion. Total supply stands at 99.98 billion. The token’s fully diluted valuation reached $113.44 billion based on current pricing.

Holder count data places active addresses at 536,410. That figure offers a snapshot of distribution across the network. Volume relative to market value sat at 1.23% over the past day.

Neither Diana nor Cryptollica cited specific on-chain metrics to support their projections. Their posts relied on chart pattern interpretation rather than fundamental data. Social sentiment around XRP has fluctuated through the corrective phase.

Price action over coming sessions may test whether the $1.10 floor holds. Traders following the accumulation thesis are watching that range closely. Others remain cautious given the scale of the recent pullback.

The post XRP Holds Key Support After 68% Drop, Traders Eye Next Move appeared first on Blockonomi.