XRP is attempting to stabilize around the $1.15 level after a sharp decline that pushed the token to its lowest point since 2024, erasing months of earlier recovery gains and placing the market structure under renewed stress.

On-chain volume analysis shows a sharp spike in trading activity, with XRP’s Binance Volume Z-Score surging to around 4.5 — its highest level in four months — before quickly dropping back below the 30-day average. This pattern suggests that the move was driven by intense, short-lived selling pressure or large-scale repositioning by major market participants rather than sustained accumulation.

The data indicates that the selloff coincided directly with XRP’s decline toward $1.13, implying that elevated volume was primarily driven by aggressive distribution rather than demand. Analysts note that such spikes often occur during forced liquidations or rapid portfolio adjustments, and are typically followed by continued volatility as the market absorbs the shift in supply.

From a technical perspective, XRP is now testing its 200-week moving average near the $1.10–$1.15 range — a historically important support zone. While the price is attempting to hold above this level, the broader trend remains weak, with the token trading below key long-term moving averages and still under downward pressure. A sustained recovery would require a move back above $1.30 and eventually $1.50, while a breakdown below $1.10 could open the door to further downside toward $1.00 or lower.