According to the media, after the XRP fell by $1.19, the market focus has shifted to between $0.84 and $0.87. According to multiple analysts, this area may determine whether the current round adjustment is nearing its end. At the same time, the chain and derivative data do not show a clear sense of panic.

$1.19 lost and turned to the bottom support.

Citing the views of ChartNerd, a graphic analyst, the report states that XRP had previously failed to secure $1.19 and subsequently fell into a significant retreat, thus further weakening the price. According to it, the next more visible support area is between $0.84 and $0.87.

In his view, the importance of the zone was due to the fact that the long-term Gaussian mid-track coincided with a retreat near 0.854. In the past few cycles, similar positions have appeared at the end of the decline and have accompanied the start of a new round.

This round is weak at the extreme of history.

ChartNerd also compares the current round of adjustments to XRP ' s past Bear City. According to its statistics, there has been a deep retreat of 85 to 96 per cent in the history of XRP, lasting approximately 400 to 790 days.

By contrast, this round of fall lasted about 11 months and fell by about 69 per cent. If this comparison is true, the current adjustment has not reached historical extremes in terms of time and magnitude, but it also means that markets are approaching more critical price bands.

Derivative activity is back to normal.

CryptoQuant data show that XRP's persistent contract at Binance is still close to normal and has not undergone an abnormal increase. This means that the recent price weakness is not necessarily directly driven by large-scale flatting or excessive leverage.

  • Volume Imbalance is about 0.51
  • 30 days Z-Score approximately 0.17
  • Derivatives trading in April and May have cooled.

Reports suggest that recent setbacks are more likely to reflect a weakening of market sentiment and a decline in trade activity. If the 0.84-0.87 area can provide support, the market follow-up focus may return to the range of 1.30 and 1.65 dollars.

Additional information:Another analyst in the paper, Dark Defender, also mentioned that XRP may be close to the end of the current cycle and there are signs of technical deviation, but this is still a market view and has not yet constituted a reverse confirmation.