TLDR:
- XRP has dropped 69% from its recent all-time high of $3.66 and is currently trading around $1.39.
- The $0.66 price level is a critical support threshold — a weekly close below it invalidates the bullish outlook.
- Santiment data recorded $1.93B in weekly realized losses, the largest spike for XRP since November 2022.
- Analysts cite upside targets of $2, $3, $5, and $10-plus if XRP holds above its key accumulation zone.
XRP is trading around $1.39 after recording a 69% correction from its recent all-time high of $3.66. The asset has posted a -3.76% decline in the last 24 hours and an -8.78% drop over the past seven days.
Trading volume stands at approximately $1.43 billion within the same 24-hour window. The token is currently testing a historically significant demand zone that analysts say previously served as a multi-year accumulation area.
XRP Retests Multi-Year Accumulation Zone After Sharp Decline
The current price action places XRP at a technically important level. The token broke below the $2 support zone and is now retesting what analysts describe as a high-timeframe demand area.
This zone previously acted as the upper boundary of a multi-year accumulation range before the 835% rally.
Crypto analyst Crypto Patel noted on social media that the current structure mirrors a classic breakout-retest setup. The price tested this same support region before the prior explosive move. That historical parallel has drawn attention from traders watching the $0.86–$0.66 range closely.
According to the analysis, the $0.66 level acts as the key line for bullish continuation. A weekly close below that price would technically invalidate the bullish outlook. For now, XRP remains above that threshold while sentiment stays cautious.
The confluence of the multi-year breakout retest and the accumulation zone creates what analysts see as a strong demand area. Whether price holds or breaks lower from here will likely set the tone for the next major move.
On-Chain Data Shows Largest Realized Loss Spike Since November 2022
On-chain data from Santiment recorded $1.93 billion in weekly realized losses among XRP holders. This marks the largest spike of this kind since November 2022. The data point reflects a notable capitulation event among market participants.
Crypto Patel referenced the Santiment figures in a post on X, pointing out that extreme capitulation events have historically coincided with local price bottoms.
The November 2022 comparison is relevant because that period also preceded a recovery phase for many digital assets.
Realized losses occur when holders sell at prices lower than their cost basis. A spike of this size shows that a large portion of the market exited positions at a loss. Such behavior often marks a shift from weak hands to stronger holders.
Upside targets cited in the analysis range from $2 to $3, extending further to $5 and beyond $10 from the accumulation zone.
These levels represent potential resistance points if buyers step in and the price recovers. The next major confirmation will come from how XRP closes on a weekly basis near current levels.
The post XRP Drops 69% From ATH and Tests Key Support Zone; Is a Reversal Coming? appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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