XRP Slips Below $1 Support Amid Ongoing Bearish Trend
XRP has lost $1 support and is trading near $0.98 as sellers target this price level, according to recent market data.
The token's price declined 2.8% over seven days and has been struggling around the psychological $1 mark, which has acted as a barrier for buyers in the past.
Analyst Crypto Patel warns that XRP could fall another 20-40% before forming a major reversal, citing its current bearish structure and lower highs and lows on the daily chart.
A recent break below $1.14 led to a sharp decline, with XRP falling from approximately $1.14 to a low near $0.98 in early August.
The token's current price action is also influenced by its daily indicators, including the Bollinger Bands and Chaikin Money Flow, which show that sellers are still in control of the broader trend.