XRP Holds Key Support at $1.00 as Bulls Defend Against Further Declines

Ripple's XRP token is holding above its immediate support level of $1.00 as bulls defend against further declines.

The remittance token has been in a steady decline since reaching a high of $1.18 in July, and while it maintains a bearish outlook, it continues to trade above the critical $1.00 demand area.

Holding above this level is crucial for XRP's recovery, as a sell-off could ensue if buyers become exhausted, driving losses below the $1.00 region.

US-listed XRP spot Exchange-Traded Funds (ETFs) have been lackluster in recent days, with persistently muted trading activity highlighting entrenched bearish sentiment in the broader crypto market.