Will XRP’s price drop below $0.60? Here’s what KEY metrics suggest

Ripple [XRP] was hanging on to the $1 psychological level by a thread. Over the past ten days, XRP prices have fallen by 6.67%, from $1.074 to $1.002, and further downside appeared likely.

CEO and Founder of crypto intelligence platform Alphractal, Joao Wedson, wrote in a post on X that he “wouldn’t be surprised to see XRP trade below $0.60.” Historically, the average cost basis has been a price level that has been approached during market bottoms.

A long period of consolidation, followed by a bullish breakout, has been the norm in recent cycles and could occur again.

Polymarket has assigned a 65% chance that XRP prices will slide below $1. Rising leverage and weak buying pressure worsened the risk of a bearish price reaction, AMBCrypto reported.

The taker buy/sell ratio measures the aggressive (market order) buying and selling volume. Since it is the taker orders that move market prices, sustained taker sell domination tends to accompany downtrends in price.

The ratio was at 0.8 at the time of writing, and the 7-day average was at 0.9. Moreover, figures below 1 represent aggressive seller dominance.

It must be noted that, even during strong XRP rallies, the taker buy/sell ratio has sometimes been below 1. The falling Taker Buy/Sell volume, alongside the rising Open Interest behind XRP, meant the market was in a distribution phase and dominated by sellers.