A recent update from crypto analyst Ali Martinez brings focus to XRP’s cost basis distribution, with newly shared on-chain data illustrating how a substantial portion of the token’s supply clusters around a specific price range. The information is supported by a detailed Glassnode heatmap showing months of price action alongside supply concentrations at various cost bases. The visual highlights where major groups of holders previously entered the market, providing additional context to the analyst’s assessment of current support dynamics.
1.80 billion $XRP were previously acquired around $1.75, making it a key support area. pic.twitter.com/gjZCdVApuA
— Ali (@ali_charts) November 22, 2025
Importance of the $1.75 Cost Basis Zone
According to the data referenced in the post, approximately 1.80 billion XRP were originally acquired near the $1.75 level. This concentration establishes the range as an important area of interest because it reflects a significant volume of holders whose positions originate around that price. The heatmap attached to the tweet shows a dense band of supply in this region, indicating that it has acted as a cost basis for a wide portion of the market over the past several months.
The chart displays price movements from late 2024 through November 2025, with the highlighted cost basis cluster aligning with the analyst’s point. The supply indicator, included in the heatmap, reinforces the scale of this zone by showing how much XRP corresponds to that cost basis level. The chart’s snapshot for November 20, 2025, identifies a cost basis range slightly above $1.75, consistent with the figure cited in the commentary.
Market Reactions and Community Input
The post prompted responses from community members who viewed the chart and the analyst’s interpretation. Crypto Evan expressed that the support zone at $1.75 could remain intact if market conditions stabilize, expressing interest in monitoring for a potential upward move. Another commenter, Emily, took a more cautious stance, noting that the support level may be at risk if downward pressure continues.
These reactions reflect different expectations around the impact of concentrated cost basis areas. For some, these zones represent potential stabilization points if holders choose not to sell below their acquisition range. For others, large clusters of supply may raise the risk of heavier selling if the price falls meaningfully beneath these thresholds.
The data presented in the shared heatmap contributes to a broader understanding of XRP’s current technical landscape. Cost basis concentrations often provide insight into how holders might behave during periods of volatility. With the $1.75 level marking one of the largest supply clusters, traders may continue to monitor whether the asset sustains movement above this point or tests it further.