XRP Support Level Identified Amid Bullish On-Chain Signal

The XRP community has received a noteworthy update, as the cryptocurrency exhibits bullish signs based on recent blockchain data. Renowned crypto analyst Ali Martinez has presented fresh on-chain insights that shine a light on the potential movement of XRP and where the key support level lies for investors to monitor closely.

According to Martinez, XRP is showing favorable conditions for an upward push, with minimal resistance zones in sight. This observation is grounded in a chart sourced from Glassnode that highlights the distribution of Unspent Transaction Outputs (UTXOs) for XRP. UTXO-related data often provides clues about market behavior, especially when it comes to support and resistance areas formed by clusters of past transactions.

The standout figure in Martinez’s analysis is the $2.38 level. He emphasizes that this value is not merely psychological, but rather backed by concrete on-chain activity. Should XRP experience a downturn, this level is expected to function as a stepping stone for recovery, acting as a foundation where buyers previously exerted strong momentum. A resurgence in market activity at this price could potentially rejuvenate demand and mitigate further losses.

This declaration comes without any visible barrier areas above the current market valuation, suggesting that there’s room for XRP to climb if bullish sentiment and market volume continue to increase. The absence of resistance clusters implies that significant selling activity is not stacked ahead, offering XRP a smoother upward path if momentum builds.

Martinez shared this analysis directly via the social media platform X (formerly known as Twitter), where he frequently provides crypto updates. The post not only highlighted this support level but also reinforced the notion that XRP is currently operating in a space free from heavy resistance — an observation important for short-term traders and long-term holders alike.

Amid this technical development, discussions around the potential for an XRP ETF have also resurfaced. Financial giant BlackRock recently held a meeting with the U.S. Securities and Exchange Commission’s Crypto Task Force. During this session, both parties explored future strategies connected to digital asset regulation within the United States.

Topics ranged from integrating staking into exchange-traded funds (ETFs) to the broader concept of tokenizing traditional investment securities. While specifics about XRP did emerge, BlackRock confirmed its current focus remains on its existing ETFs tied to Bitcoin (IBIT) and Ethereum (ETHA), as well as the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).

Nonetheless, these types of discussions represent a turning point in how traditional institutions and cryptocurrency entities may collaborate going forward. While no official XRP ETF has been announced, the mere reconsideration of such possibilities has ignited speculation and anticipation among XRP supporters.

The convergence of strong technical signals and growing institutional curiosity paints a cautiously optimistic picture for Ripple’s native token. Traders are advised to monitor the $2.38 mark, not only for its historical transaction density but also for its strategic relevance under current market dynamics.

Related: Expert Advice: Sell XRP If You’re Confused

As always, while on-chain data can signal directional trends, external factors—from regulatory decisions to global market sentiment—continue to hold significant weight in shaping XRP’s trajectory. Still, with minimal resistance ahead and a firm foundational zone established, XRP appears well-positioned for potential upward movement, should overall conditions align in its favor.