XRP's price has plummeted by a significant 68% from its previous cycle high of $3.66, now trading at $1.13 with a notable 24-hour volume increase to $868.27 million.
Traders are closely watching the cryptocurrency's price action around the crucial accumulation zone between $1.10 and $1.30, suggesting potential for recovery if support holds.
Resistance levels are set at $2.00-$2.50, with some analysts speculating that this level of price washout may precede future rallies.