XRP fell 68% from its previous cycle peak to $1.13

XRP declined by 1.06% in the past 24 hours, trading at $1.13. During the same period, trading volume rose by 4.83%, reaching $868.27 million. This recent retreat means XRP is now 68% down from its previous cycle high of $3.66.Key support zone draws market attentionMarket opinions divergeTracking supply data and network distributionCautious outlook persists in forecasts Key support zone draws market attentionMarket focus has shifted to the $1.10 to $1.30 range for XRP. On the X platform, crypto analyst Diana noted that this area serves as an accumulation zone on the weekly chart. Despite the recent sharp selloff, she argued that the larger timeframe structure continues to show an upward bias.Following the 68% drop from XRP’s $3.66 cycle peak, Diana highlighted the importance of holding above the $1.10 to $1.30 range, calling it a critical accumulation area on the weekly chart.According to Diana’s levels, the $2.00 to $2.50 band is identified as the first resistance zone. After that, $3.66—the previous cycle top—represents a key threshold where a retest could occur. Above this, the $5.00 to $6.00 region is considered potential territory for price discovery should upward momentum build.Diana’s analysis also included a Fibonacci extension target at $8.17. In an even longer-term projection, she suggested a potential channel target near $17.15. Conversely, if the current support zone fails, she identified the $0.40 to $0.60 area as a deeper macro support region. Mini glossary: Fibonacci extension is a charting method used in technical analysis to estimate potential target levels based on prior price movements. Accumulation zone refers to a price range where investor buying interest is considered particularly strong.IndicatorLevelCurrent price$1.13Support zone$1.10 to $1.30First resistance$2.00 to $2.50Previous cycle high$3.66Major support zone$0.40 to $0.60Market opinions divergeAnother crypto-focused account, Cryptollica, also shared observations about XRP’s current state. According to their post, a selloff of this magnitude has occurred just three times in the asset’s 13-year history. Cryptollica argued that in previous instances, periods marked by intense pessimism ultimately gave way to subsequent rallies.Cryptollica pointed out that severe drawdowns of this size have only occurred a handful of times for XRP in 13 years, and that similar episodes of extreme negative sentiment have been followed by market recoveries.Tracking supply data and network distributionXRP’s circulating supply currently stands at 62.05 billion tokens. The asset has a maximum supply of 100 billion and a total supply of 99.98 billion. At the current price, fully diluted valuation reaches approximately $113.44 billion.The XRP network counted 536,410 active addresses. This figure provides a real-time snapshot of token distribution, while trading volume over the last 24 hours represented 1.23% of XRP’s market capitalization.Cautious outlook persists in forecastsBoth Diana and Cryptollica focused more on chart patterns than on-chain data in their analyses. As a result, market participants are watching closely to see whether the $1.10 level will hold, adopting a more cautious stance. The ability of the price to remain above this support will be a key indicator for XRP’s short-term direction in upcoming sessions.Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.