BEARISH 📉 : XRP nears Realized Price, risks further declines after recent crash

XRP has dropped below $1.60, and Glassnode reports its market structure mirrors April 2022's pattern.

XRP Approaching Realized Price

Glassnode highlights XRP's trading proximity to its Realized Price, an indicator of the average acquisition cost on the blockchain.
If the spot price is above this metric, investors are generally in profit; if below, the majority is at a loss.
The current Realized Price is $1.48, with XRP nearing this level after a recent sector-wide crash.

XRP Realized Price

The market resembles April 2022, when XRP entered a bear market and fell to its Realized Price, leading to a significant decline.

Analyst Ali Martinez identifies technical support levels for XRP at $1.38 and $1.02, with resistance at $1.86.

XRP Price Chart

XRP is currently trading around $1.60, marking a nearly 15% decrease over the past week.