XRP pressured at $1 as Bitcoin weakness looms
XRP is hovering at the $1 level after multiple failed attempts to hold above it, with technical indicators suggesting further downside if Bitcoin weakens.
XRP is trading at $0.9996, having oscillated around the $1 mark throughout August with progressively weaker bounces. The weekly candle opened at $1.0289 and closed at $0.9996, down 2.87% on the week, showing a pattern of lower highs and lower lows since June.
The $1 level represents critical structural support. Below it lies an air pocket with the next supports at $0.90 and $0.80—levels not seen in almost two years. Round numbers concentrate trading orders and leverage, so a break below $1 "with conviction" could trigger cascading liquidations rather than an orderly decline.
XRP's weakness is not isolated. The article notes that XRP is falling alongside a struggling Bitcoin market, and lacks a soft landing if BTC loses footing. Technical metrics reinforce the bearish setup: the weekly RSI has fallen to 31.02, the token trades below its 200-week EMA at $1.3745, and the structure from March shows consistent lower highs and lows.
The performance data underscores sustained weakness: XRP is down 3.80% over one week, 7.99% over one month, 32.78% over six months, 45.67% year to date, and 67.54% over twelve months. Even over five years, the asset is down 22.29%.
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