XRP Falls Below $1 to Hit 2024 Low, Risks Another 50% Plunge

TradingKey - On August 14, Ripple (XRP) continued to fluctuate lower, falling 0.1% today to trade at $1.0077. This Tuesday (August 11), Ripple's price broke below the highly symbolic psychological and technical support level of $1, hitting its lowest point since November 2024. Currently, XRP's loss of this key level has triggered strong bearish alarms and sell-off concerns in the market. Where is the next support level?

Why Is XRP Price Falling?

Currently, the crypto market is facing a liquidity shortage, leading to internal capital flight and a drying up of altcoin liquidity. Although Bitcoin (BTC) prices have also experienced a pullback, marginal buying in the market remains heavily concentrated in the spot Bitcoin ETF ecosystem, creating a capital drain on the entire crypto market, with XRP also being affected.

XRP not only lacks buying support, but its selling pressure is also steadily increasing. In the first half of 2026, the Grayscale XRP Trust ETF sold over 70 million XRP, cashing out more than $180 million, which not only directly increased market selling pressure but also hit bullish confidence. In addition, Ripple's official monthly escrow unlock mechanism has a limited impact when market buying power is strong; however, during a downward cycle lacking liquidity, it is easily interpreted by the market as potential long-term supply selling pressure.

XRP Price Technical Analysis: May Continue to Fall Over 50%

Over the past month or so, XRP has bounced upward twice to reach $1.18 (the 0.786 Fibonacci retracement level), which is the last line of defense before a downtrend reversal. Failing to break through on both occasions and continuing to make new lows indicates that the original downtrend will persist, with the next support level sitting near $0.5, the starting point of this bull market rally, representing about 50% downside from current levels.

XRP price chart, Source: TradingView

Breaking below $1 has pushed XRP into a high-risk technical zone. If it fails to reclaim the key $1.00 psychological level in the short term, the risk of retesting the $0.5 support range increases significantly. At present, Ripple lacks major positive catalysts of its own, and the tokenization use cases targeted by XRP Ledger will not generate short-term effects, relying primarily on broader market momentum. Meanwhile, the crypto market's biggest expectation is Federal Reserve rate cuts to gain liquidity. Therefore, investors should focus on the Fed's monetary policy in the second half of the year.

This content was translated using AI and reviewed for clarity. It is for informational purposes only.

Disclaimer: The content of this article solely represents the author's personal opinions and does not reflect the official stance of Tradingkey. It should not be considered as investment advice. The article is intended for reference purposes only, and readers should not base any investment decisions solely on its content. Tradingkey bears no responsibility for any trading outcomes resulting from reliance on this article. Furthermore, Tradingkey cannot guarantee the accuracy of the article's content. Before making any investment decisions, it is advisable to consult an independent financial advisor to fully understand the associated risks.

XRP Falls Below $1 to Hit 2024 Low, Risks Another 50% Plunge

Why Is XRP Price Falling?

XRP Price Technical Analysis: May Continue to Fall Over 50%

Hiçbir son dakika haberini kaçırmayın

The onchain economy, before your day starts.

İlgili Haberler

Bitwise cuts 14% of jobs amid crypto industry squeeze - reports

How high will Bitcoin SV price go?

Nasdaq wants to make crypto ETF options easier to launch — Here’s how!

These four crypto stocks outperformed even as Bitcoin crashed from record highs