XRP's 635-Day Streak Above $1 at Risk as Price Dips to Almost Exactly Dollar

XRP has maintained its price above $1 for an impressive 635 days, dating back to November 16, 2024. However, this streak is now under threat as the price dipped to $0.99 on August 11 before recovering to close at $1.01.

The last time XRP closed below $1 was on November 15, 2024, when it finished at $0.89. The psychological barrier of $1 has been a strong level for buyers, with each dip toward this price being absorbed so far. However, the market sentiment remains weak, and XRP dropped 3.9% last week while Bitcoin gained 1% and Ethereum 0.5%, making it the weakest of the large cryptocurrencies.

Whales have been buying XRP near $1 in significant quantities, with over 380 million XRP added in a single week. This buying has slowed down the decline but cannot replace a reason to buy, which is currently lacking for XRP until the CLARITY Act vote in September. The leverage built up since August could make this break faster than previous ones, with forced selling from long positions pushing XRP well below $1 before buyers can defend the level again.