Ripple's XRP Must Hold This Important Support Line to Maintain the Rise

A well-known cryptocurrency analyst with over 150,000 followers on X has outlined the most important support level for the current bullish structure of XRP. Currently, the asset price remains elevated, while significant accumulation by whales indicates the potential for prices to rise again.

The support level mentioned is around $2.81. Martinez stated that 1.70 million tokens have been purchased at this level, equivalent to more than $5 billion at the current price. Large accumulation zones like this often serve as important support or resistance lines, as investors tend to panic if their positions shift from a low level to an unrealized loss after a long period and vice versa. XRP tested this support level at the beginning of the month. At that time, the entire cryptocurrency market was in a freefall due to the latest moves by Donald Trump regarding the trade war, as well as the deployment of several U.S. nuclear submarines. However, the buyers have defended this level, and the native token of Ripple has confidently bounced back and has not decreased since then. On the contrary, it has challenged the resistance level of $3.30, which is currently too strong to break. However, the "whales" seem to remain optimistic about the price fluctuations of XRP in the future as they continue to accumulate this token. After purchasing XRP worth 1 billion dollars last week, they bought an additional 120 million XRP just a few days later. Meanwhile, Martinez pointed out that the $3.26 level is an important resistance level for the future trajectory of the asset. If broken, it could rise to a new all-time high of $3.90, he added.