XRP has reached a point where one price matters more than any other: $2.80. According to data from Glassnode, more than 2,000,000,000 XRP were purchased at this price, making it the largest cluster of holders on the market right now.
When so much supply is sitting on one level, and this one contains $6 billion worth of XRP, it often becomes the place where bulls draw the line because breaking below it would mean a huge portion of traders are suddenly underwater, and that usually exaggerates selling pressure.
You Might Also Like
The last few weeks have been a bit all over the place. The XRP price briefly broke through $3.10 in early September but could not hold that position, dropping to around $2.95 over the next few days. At the same time, the charts show that the coin has been trending down since August, with each dip closer to $2.80 being met with buying.
The heatmap makes this clear, with the brightest bands of supply glowing right around that support zone, showing where the money is actually concentrated.
Bullish signals for XRP
In the meantime, short-term signals also suggest that there might be a recovery. The TD Sequential indicator on the four-hour chart has just flashed a buy sign, as per Ali Martinez, which usually comes when the market is stretched too far in one direction and ready for at least a pause.
The liquidation numbers also back this up, with more than $16 million gone in the last 24 hours, almost all of it from long positions. That reset can make it easier to trade if buyers start shopping for XRP again.
You Might Also Like
What happens next depends on how the market deals with $2.80. If it holds, XRP could climb again toward $3.05 and $3.15 without too much resistance. If it does not climb, the next real test will be down near $2.64, but it would be a clear break in confidence.
Source: https://u.today/most-important-support-level-for-xrp-revealed