XRP Dives Below $1 as Selling Pressure Intensifies

XRP's price has fallen below $1 for the first time since November 2024, raising concerns about further declines. On August 17th, XRP ended the week at $0.9925, briefly dropping below the psychologically significant $1 level.

This comes after several attempts to defend the $1 mark last week. Despite minor rallies, selling pressure continued to build, with XRP falling to a new year low of $0.9874 on August 14th.

Technical indicators suggest a bearish view, with the daily relative strength index (RSI) at 36.65, indicating downward pressure remains strong. However, the RSI has not dropped below 30, leaving room for a short-term rebound.

The next support levels are around $0.9874 and the Fibonacci levels of $0.9443 and $0.9226. If XRP fails to regain $1, these levels may be tested, potentially leading to further losses.