XRP Risks Falling Below $1 as Zcash Hovers Near $500

XRP is trading close to its $1 psychological threshold, which it has consistently drawn buyers towards. However, this level of support is growing more vulnerable after several tests.

The small ascending trendline that held throughout July is now under pressure as XRP has fallen below its short-term moving averages. The 200-day moving average is still much higher at $1.43, indicating a bearish overall trend.

Buyers would prefer to see the Relative Strength Index (RSI) rise back above 50 along with increased trading volume before confidence in a long-term recovery can resume. The $1 barrier is crucial, and a daily close below this level could trigger stop-loss orders and hasten selling toward the next support area at $0.95.

Zcash (ZEC), on the other hand, has returned to one of its most significant psychological price levels, trying to hold above $500. Despite recent selling pressure, the overall technical structure is still positive, indicating a bullish trend.