The cryptocurrency market remains uncertain over a week after the dramatic events of last Friday, where recovery efforts have stalled. Notably, XRP has been dropping since hitting its all-time high in July, losing two market positions to USDT and BNB. Popular crypto analyst Ali Martinez has raised concerns about XRP potentially falling to $2.

Ali Martinez: $XRP looks like it wants to revisit $2! chart

If we disregard the recent market-wide crash that saw XRP dip below $1.5 on some exchanges, the cryptocurrency had maintained values above $2 for almost four consecutive months, with the last dip occurring in June. Currently, market conditions seem unfavorable for numerous altcoins, including XRP.

Martinez mentioned the UTXO Realized Price Distribution for XRP, indicating crucial support levels in the event of another downturn, with the next key support positioned at $2.10, close to the $2 mark. He also noted that if a surprising rally occurs, XRP could target $3.

Related Articles

• XRP Price Plunged 20% Amid Significant Whale Inflows to Binance
• Ripple (XRP) Gains 160% After $20B Liquidation Shocker – What Lies Ahead?
• Altcoin Bloodbath: ETH, XRP, SOL, DOGE Crumble as Liquidations Near $900M

Ali Martinez: XRP – Resistance: $2.80, Support: $2.10 chart