XRP Is The ‘Second Most Talked-About Asset,’ Grayscale Says: $1.80 Next?

XRP (CRYPTO: XRP) has fallen roughly 29% over the past month, but some traders say the correction may be nearing exhaustion, setting up a potential relief rally.

Trader Notes: Crypto trader Columbus said XRP appears to have completed a clear five-wave impulsive decline, often signaling the final phase of a broader corrective structure.

• Price is stabilizing near $1.05–$1.10, a key demand zone
• Area aligns with prior structural support
• Also matches a projected Elliott Wave completion region

If the correction is complete, Columbus sees scope for a multi-leg relief rally toward $1.80.

Trader Osemka highlighted that XRP’s one-week funding rates have turned deeply negative, while open interest has declined to multi-year base levels.

Historically, extended negative funding has coincided with major bottoms, including the 2022 cycle low, with only a deeper spike occurring during the FTX collapse.

Price is now attempting to form a base around key intermediate support levels, reinforcing the possibility of at least a short-term rebound.

Crypto Tony cautioned that while a relief bounce may occur first, a larger downside move could still follow. He advised traders to avoid becoming overly bullish on the initial upside reaction.

Statistics: Crypto chart analyst Ali Martinez reported XRP network activity declined nearly 26% week-over-week, with active addresses falling from 55,080 to 40,778. The drop in participation may reflect broader market consolidation, though it contrasts with improving derivatives sentiment signals.

Community News: Grayscale’s head of product and research said advisors are consistently fielding client questions about XRP, calling it the “second most talked about asset behind Bitcoin.”

She emphasized the strength and vibrancy of XRP’s community within blockchain and crypto circles, pointing to sustained demand interest despite recent price weakness.

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