Ali Martinez Identifies Important Support Level for XRP at $2.81

Ali Martinez, the famous cryptocurrency analyst, has stated that the price level of $2.81 is a crucial level for XRP. In his latest post on X, Martinez described this zone as "Key Support," noting that users have accumulated over 1.7 million XRP tokens at that price level.

2.81 USD and 3.04 USD are important levels for XRP. Martinez used the cost distribution heat map indicator to reinforce his argument, showing that the huge XRP accumulation range is quite narrow around the zone he identified. However, this indicator also reveals another important zone around the $3.2 level. XRP users have accumulated about 1.04 XRP tokens around that price. The strong investment in XRP at the 2.81 dollar and 3.2 dollar zone reinforces the overall optimistic sentiment surrounding this cryptocurrency. Typically, most users accumulating large volumes of digital assets expect the price to rise. Therefore, the support level of 2.81 dollars due to the massive token accumulation has boosted investors' optimistic sentiment towards XRP. Meanwhile, XRP investors are optimistic that the price zone of $3.2 is a potential support level, despite the price trading below that level at the time of writing. This zone will become a support level when the price of XRP returns above that level, considering the huge accumulation of buy orders that users have placed at that time. XRP Has Recovered From The Psychological Support Level $3.0 According to data from TradingView, XRP is trading at $3.12 at the time of writing, close to the high accumulation zone revealed by Martinez. This cryptocurrency has bounced off the support level of $3.0 after a sharp decline due to the U.S. PPI data released this week, indicating that the Federal Reserve may not cut interest rates anytime soon. It is noteworthy that XRP continues to maintain a dominant bullish trend, especially after Ripple and the SEC officially filed a motion to dismiss the prolonged lawsuit between the two parties. In addition, XRP remains one of the cryptocurrencies in the strategic reserves of the United States, and this altcoin is attracting significant attention across the global financial system, with the potential to become a viable payment solution for banks and financial institutions.