XRP is testing one of the most important support levels of the past several weeks, and it is barely holding on.
The $1.13 level on the weekly chart has acted as crucial support for XRP over the past one to two weeks. Right now, the price is right up against that line, and the longer-term bearish trend has still not been reversed, meaning the pressure remains to the downside.
What Happens If $1.13 Breaks
If XRP confirms a break below $1.13 and fails to recover back above it, the next major target sits between $0.90 and $1.00. That zone would mark a significant new low for the cycle.
On the shorter four-hour chart, XRP has already broken below a smaller support level that had been holding for some time, dropping straight down toward the $1.13 zone as expected. If $1.13 gives way before the bigger weekly support breaks, there is some minor support sitting between $1.08 and $1.10, giving the price a small cushion before the more significant $0.90 target comes into play.
Why This Is Happening
XRP tends to follow Bitcoin’s price action closely in the short term, and Bitcoin’s current weakness is dragging XRP and most other altcoins down with it. None of this is happening in isolation.
The Bottom Line
XRP is hanging on by a thread right now. The $1.13 level is the line that matters most this week. Hold it, and there is room to stabilise. Lose it, and the path toward $0.90 to $1.00 opens up quickly.
