XRP tested $1.01, with support at $1.06 under pressure, analyst Martinez warns risk of drop to $0.80

XRP is once again facing renewed selling pressure as recent on-chain data points to a weakening technical outlook. According to cryptocurrency market analyst Ali Martinez, the current key support zone for XRP stands at $1.06. However, the latest price action suggests that this crucial support is starting to deteriorate.

Key support levels highlighted

Martinez reports that the $1.06 mark has become a significant support region after the recent market correction, with over 830 million XRP purchased in this area previously. In his analysis, Martinez emphasizes that historical zones of heavy buying can act as solid price support should the market revisit these levels.

According to Martinez, signs of a deeper pullback are emerging for XRP. If the $1.06 zone fails to hold, the price could first move toward the $0.80 level, with the risk of falling further down to other lower supports. In such a scenario, the possibility of dipping below the $1 threshold also remains on the table.

What on-chain data reveals

Historical on-chain records show that about 1.16 billion XRP previously changed hands around the $0.62 level. For this reason, if the current major support is broken decisively, a retreat toward the $0.63 area cannot be ruled out. Such zones are considered technically significant as they are points where investors historically built substantial positions.

Ali Martinez is recognized for his data-driven, chart-based market commentary. In this context, “on-chain data” refers to direct network metrics such as wallet movements and transaction clusters recorded on the blockchain.

Glossary: On-chain data denotes publicly accessible records on the blockchain, including transfers, wallet activity, and the distribution of acquisition costs. A support level refers to a price area where buying interest has concentrated in the past, helping to slow down declines.

Recent price movement intensifies pressure

As market volatility persists, XRP recently retested the $1.01 mark—a price not seen since November 2024. This latest dip has strengthened the view that the asset may have lost its current support.

With this outlook, market attention has shifted to the next notable support level at $0.80. The analysis underlines that if the critical $1 threshold fails to hold, downward pressure on XRP could intensify further.

The post XRP tested $1.01, with support at $1.06 under pressure, analyst Martinez warns risk of drop to $0.80 appeared first on COINTURK NEWS.