XRP Tumbles Below $1 as Selling Pressure Mounts and Smart Capital Favors Early-Stage Plays

Ripple's XRP token is struggling to stay above $1 as it faces intense selling pressure. The price has dropped by 0.8% over the past 24 hours, with some analysts warning that a daily close below $0.95 could send the token plummeting to $0.90.

Veteran commodities trader Peter Brandt is one such analyst who has publicly expressed his skepticism about XRP's prospects. In response to a challenge from an XRP community member, Brandt said he would immediately convert 500,000 XRP into Bitcoin if he held it.

Brandt's comments come at a critical time for XRP, as the token tests a key support zone that multiple technical reports flag as critical. While some analysts are predicting a choppy range trading session between $0.98 and $1.03, others warn of a potential bearish breakout if XRP fails to hold above $1.

Meanwhile, Bitcoin is trading at $62,800 and down 1.4% on the day. While it's not setting off fireworks either, its relatively firmer footing near XRP has raised concerns about smart capital rotating towards earlier-stage plays with asymmetric upside.