XRP Falls 2.8% as $1 Support Comes Back Into View
XRP dropped 2.8% to around $1.07 after losing the $1.0850 support level during a broader crypto pullback. The token remains under pressure as traders watch the $1.05-$1.07 support band and the psychological $1 mark.
What happened?
XRP dropped 2.8% to around $1.07 after losing the $1.0850 support level during a broader crypto pullback. The token remains under pressure as traders watch the $1.05-$1.07 support band and the psychological $1 mark.
Why it matters
The decline came as the broader crypto market also moved lower. CoinDesk noted that the CD5 index dropped nearly 3% as bitcoin and other major tokens came under pressure, adding to the defensive tone around XRP.
XRP fell 2.8% in the latest 24-hour session, sliding from $1.1020 to $1.0708 after sellers pushed the token below support at $1.0850. The move left XRP near the lower end of its June trading range, with a brief rebound failing to reclaim the breakdown level.
The weakness matters because XRP is now sitting close to a support area that traders are watching closely. CoinDesk reported that the $1.05-$1.07 zone remains the immediate band buyers are defending, while a loss of that area would likely bring renewed focus to the psychological $1 level.
The decline came as the broader crypto market also moved lower. CoinDesk noted that the CD5 index dropped nearly 3% as bitcoin and other major tokens came under pressure, adding to the defensive tone around XRP.
During the session, the sharpest break came around 13:00 UTC, when volume rose to 117.26 million XRP and price moved through $1.0850. Selling later took XRP to an intraday low near $1.0446 before a modest bounce carried it back toward $1.07.
Technically, the former $1.0850 support has become the first level buyers need to recover. Analysts cited by CoinDesk said XRP remains in a defensive structure below that mark, while a move above $1.10 would be needed to suggest the latest breakdown was only a shakeout.