Analyst Ali: XRP falls below $1.26 or tests $0.98

Crypto analyst Ali stated that currently, $1.26 may be the lower boundary of the price channel formed by XRP since August. If this support level is broken, the price may first drop to $1.11, and further decline could reach $0.98, about 22% lower than $1.26. Ali believes that if whales continue to sell off, the price of XRP could drop to $0.98.

Data shows that in the past few weeks, the number of wallets holding 10 million to 100 million XRP has decreased from 351 to 339; meanwhile, the amount of XRP held by exchanges has increased from 11.003 billion to about 11.05 billion, an increase of about 50 million, and has remained high over the past week, which may indicate increased potential selling pressure.