XRP Price Teeters on Brink of 21% Plunge Amid $1.08 Support Zone Pressure
XRP's price has been clinging to the $1.08 support zone for weeks, and analysts believe it's one bad candle away from a significant downturn. Currently trading near $1.095, XRP is stuck below a cluster of moving averages between $1.11 and $1.12, making it difficult for buyers to push prices higher.
According to analyst Diana, the Relative Strength Index (RSI) reads near 39, indicating weak momentum despite recent price action. If the $1.08 zone fails to hold, XRP could plummet towards $0.91 and potentially even lower to $0.86, representing a close to 21% decline.
Historical midterm year patterns suggest that XRP may be setting its macro floor ahead of Bitcoin's own low. ChartNerd pointed out that in past midterm cycles, XRP has marked its bottom months before Bitcoin confirmed its own low. However, this pattern is not foolproof, and the analyst notes that the case remains open.