XRP Price Struggles Below $1 as ETF Demand Fades and Technical Indicators Remain Bearish
XRP's price continues to decline, reaching $1.05 on August 6 after four consecutive daily drops.
The token is now close to its psychological support level of $1, which it has repeatedly defended since November 2024.
However, a sustained break below $1 could expose the next target at $0.88, although this remains unconfirmed and speculative.
XRP's market capitalization stands near $65.5 billion, with daily trading volume around $1.28 billion.
The token has been struggling to recover above $1.10, with its main moving averages below the current price.
Technical indicators, including the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), remain bearish, indicating weak momentum.
Market analyst EGRAG CRYPTO has identified $1.11 as the first sign of strength, followed by higher price targets at $1.21, $1.28 to $1.30, and $1.38.