XRP Price Plummets Below $1 as Large Holders Buy In

The price of XRP fell below $1 for the first time in two years, part of a broader pullback across crypto markets this month. On August 11, XRP touched a low of nearly $0.99 before rebounding to about $1.02.

This move shows wider pressure across crypto markets rather than anything specific to XRP itself. Over the past three months, XRP's total market value fell roughly 29%, tracking a broader slowdown that has weighed on most major cryptocurrencies during that stretch.

Despite the price fall, ownership data pointed to a different trend beneath the surface. Wallets with at least 1 million XRP added 32 new addresses during the recent dip, indicating that some large holders were buying while smaller retail investors sold.

This kind of divergence is often watched closely as a signal of longer-term confidence, even during short-term weakness. However, not everyone is convinced that this trend will hold. Some longtime holders describe the drop below $1 as a buying opportunity, pointing to Ripple's ongoing work in cross-border payments as a reason for continued confidence in XRP's long-term use case.

One chart analyst who has called XRP's broader downtrend for close to a year says that the token remains in a longer-term bear market that has been running since last summer. He pointed to a recent lower low in XRP's price, while a separate momentum measure showed early signs of stabilizing, a pattern he described as tentatively bullish.

The analyst noted that this signal would need a few more days of price action to hold up and become confirmed. A close below $1 could open the door to a drop near $0.92, identifying that level as the next area of support if XRP fails to hold above the dollar mark. If XRP manages instead to close back above $1 and stay there, he said the case for a near-term bounce would strengthen.