XRP Price Plummets to Lowest Daily Close of Year, $1 Level in Jeopardy

XRP's price has plummeted to its lowest daily close of the year, raising concerns about its ability to hold above the $1 level.

The cryptocurrency closed at $1.027 on August 6, according to The Crypto Basic, which marked its lowest daily close so far in 2026.

XRP had previously fallen to $1.009 on June 26 but recovered that day without closing below the annual low. However, this time it finished trading near the year's low.

Crypto analyst ChartNerd noted that XRP has been rejected at major moving averages in eight of the past ten weeks and failed to reclaim the 20-day exponential moving average recently.