These are the most important Ripple (XRP) price levels to watch before the next move

These are the most important Ripple (XRP) price levels to watch before the next move

XRP continues to fight BNB for fourth place, with a small daily increase.

Ripple’s cross-border token saw a substantial rally in late October, helping it briefly surpass $2.65. However, it could not maintain its trend and quickly fell to the current $2.52, even after positive news at the macro level, such as the Federal Reserve’s interest rate cut.

Now, popular analyst Ali Martínez has outlined the most important support and resistance lines for the asset that could determine the next big move.

The current price of XRP means that it is closer to the upper limits of its channel, especially the first one at $2.80. If broken, the asset could challenge the coveted $3, which has been a distant dream for almost a month.

On the downside, $2.15 will serve as the first significant line of defense if the Ripple token reverses its trajectory and heads south once again.

The XRP Army expects more volatility in the coming weeks due to several factors. An XRP spot ETF could launch in less than two weeks after Canary Capital’s latest update on its filing, potentially bypassing the typical approval process. If it does indeed hit the markets on November 13, the underlying asset could see a wild price rise.

On the bearish side is the current behavior of investors. As previously reported, whales have been dumping XRP tokens for weeks, but there is more. Data from Glassnode shows that long-term holders who accumulated before the price surge that began a year ago had “increased their spending by 580%, from $38 million a day to $260 million a day.”

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The analytics platform warned that this is a “clear sign that experienced traders are coming out and adding pressure to [the] price action”.

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