XRP Support at Risk as Price Tumbles to Two-Year Low

XRP's weekly closing price has reached its lowest in two years at $1.029, putting the $1 support level under scrutiny.

The price has fallen 44% since the start of the year and is currently trading around $1.01, down about 2.5% over the past 24 hours and 5.98% over the past seven days.

Analyst Ash Crypto noted that XRP's weekly close this week is the lowest in two years, raising questions whether this zone will become a starting point for a rebound or further losses.

XRP developer and market commentator Bird said if the $1 support holds, a double bottom is confirmed and a W-shaped pattern is completed, making it unlikely that moves below $1 could happen again.