On-chain data from Glassnode highlights a crucial support level for XRP at $2.38, marking it as a pivotal zone for traders and investors in the coming days.
According to data shared by analyst Ali Martinez, XRP currently faces no significant resistance clusters ahead, giving the token a potentially clear path for upward momentum—provided it holds this key support.
The $2.38 level represents the largest concentration of previously transacted volume, making it a strong realized price distribution zone.
In other words, this is where a significant number of investors last moved their tokens, suggesting strong conviction and potential buying interest if prices dip to this area.
Why It Matters
- Psychological & technical anchor: The $2.38 support zone could act as a psychological anchor for the market, where buyers are likely to step in.
- No major resistance ahead: With no heavy resistance clusters on-chain above the current price, a break higher could trigger a strong rally.
- Market structure: Holding $2.38 would maintain XRP’s bullish market structure and could serve as a launchpad for the next leg upward.
As XRP continues to trade in a critical range, all eyes are now on whether bulls can maintain support at $2.38 and push higher without facing heavy overhead supply.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/key-level-to-watch-next-for-xrp-and-why-it-matters/