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.