XRP’s 70% Rally Is Fading: Here’s the Level That Could Decide What Happens Next

XRP is down by 20% since the local peak marked last Saturday. What comes next? Ripple’s cross-border token staged one of the most impressive recoveries in the past 10-12 days, surging from just under $1.00 to a multi-month peak at $1.70. However, this major rally was halted, and the momentum has faded, with the asset currently struggling to remain at $1.40, which represents a 20% pullback from last Saturday’s top. The landscape worsened on Friday after the hawkish speech by Fed Chair Kevin Warsh at Jackson Hole. Major Test Approaches Popular analyst Ali Martinez has been tracking the major change in XRP’s underlying activity throughout the latest move. As previously reported, active addresses on the XRP Ledger skyrocketed by over 650% at one point, jumping from 47,180 to more than 356,000. At the same time, whales went on an impressive accumulation spree, acquiring over 300 million tokens in only 96 hours. What matters most now is whether that demand can prevent the latest pullback from developing into something considerably worse. The technical structure has weakened since the rejection at $1.70, and the token is struggling at $1.40. According to Martinez, this means that the asse...