$XRP on Edge of Collapse as Bitcoin Stalls at $63,000
The price of XRP is trading at $0.9996, stuck on the edge of the psychological $1 mark it has struggled to breach this summer.
Every attempt by buyers to defend this level since June and July has been weaker than the last, with each recovery smaller and lower than the previous one.
This matters more than it seems because XRP is not falling on its own bad news, it's falling in a market where Bitcoin itself is struggling. If BTC loses its footing, XRP doesn't have a soft landing waiting below.
The $1 level is crucial for XRP as the last structural support before a long air pocket down to $0.90 and $0.80.
XRP's charts are telling a bearish story: it's trading below its 200-week EMA at $1.3745, its weekly RSI has fallen to 31.02 against a signal line at 33.50, and the entire structure since March has been a clean series of lower highs and lower lows.
Bitcoin is currently stuck around $63,000 after repeatedly failing to reclaim $65,000, with analysts watching support in the $60,000 to $61,000 zone.