XRP Drops 69% from ATH; Analysts Identify Support Level

XRP is currently trading at $1.44, which is significantly below its all-time high of $3.65, reflecting a 69% decline. Market data indicates that XRP is under sustained bearish pressure, leading to heightened volatility in the cryptocurrency market.

Analyst Ali Chart has highlighted a critical support level at approximately $0.80, which may act as a major price floor if selling pressure continues. This support level is about 44% below XRP's current price, suggesting significant downside risk if bearish momentum persists.

Historically, XRP has experienced cycles of sharp rallies followed by prolonged corrections, particularly since the launch of the XRP Ledger in June 2012, designed as an open-source blockchain for fast cross-border payments. Despite the sharp decline, XRP remains one of the largest cryptocurrencies by market capitalization, currently ranked fourth globally with a market cap of $89.74 billion and a 24-hour trading volume of $2.38 billion, with a circulating supply of 60.91 billion tokens out of a maximum supply of 100 billion.