XRP fell 7.3% over the past 24 hours to $1.19, breaking below a support level that had held through weeks of market turbulence, according to market data. The token is down 4.6% over the past seven days.
The decline came as a broad sell-off in US technology stocks spilled into cryptocurrency markets. Until this week, XRP had held up better than many rival tokens and the S&P 500.
Support Breaks At $1.21
The token slipped below the $1.21 to $1.22 range, which analysts had identified as strong support. According to an analyst who tracks XRP’s price structure, two technical markers met in that range: the 61.8% Fibonacci retracement of the token’s previous rally and the 100% extension of its latest pullback.
The same outlook had warned before the drop that a bottom had not been confirmed. Recent rebounds had come in three-leg moves, a pattern that often signals a correction rather than a sustained recovery.
How Low Can XRP Go?
Charts point to two main levels below the current price.
The first is $1.10, which matches the 78.6% Fibonacci retracement. That level should ideally hold if the broader bullish setup is to stay intact. A decisive break below it would sharply reduce the chances of a rebound.
The second is the August swing low near $1. A fall below that level would fully invalidate the bullish setup and open the way to a deeper decline.
What Would Signal A Recovery
On the upside, the former support at $1.21 to $1.22 may now act as resistance.
A move above $1.35, the token’s most recent swing high, would be the first sign that a bottom has formed. That would also need to come with a sustained five-leg rally on shorter timeframes, which has not yet appeared.
Beyond that, $1.65 is the next major hurdle. A break above it would put the $2.60 area in view.
XRP Price Levels To Watch
- Resistance: $1.21 to $1.22, then $1.35 and $1.65
- Support: $1.10, then the August low near $1
- Upper target: about $2.60, if resistance is cleared
Outlook
XRP edged up 0.8% in the past hour as buyers stepped in after the decline. The token’s direction in the near term is likely to depend on whether it can hold $1.10 while risk appetite remains weak across stocks and digital assets.
Was this writing helpful?
Story Ends Here
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Read the Next News
