XRP on Thin Ice as $1 Threshold Beckons

XRP has been struggling to stay above the $1 threshold after multiple failed attempts at recovery. The asset's price action lacks conviction, and volume has decreased over the past two weeks, indicating that buyers and sellers are waiting for a catalyst.

The Moving Averages (MAs) continue to be a major concern for XRP, as it is trading below all major EMAs, including the 26-day, 50-day, and 100-day exponential moving averages. The long-term trend has not yet recovered, with the 200-day EMA still significantly higher at $1.39.

The Relative Strength Index (RSI) is neutral, indicating that there is enough room for another wave of selling before technical conditions become stretched. If XRP fails to defend its current position, it could lead to a sharp decline and activation of stop-loss orders.