Will XRP Price Drop Below $1 Again?

XRP Price has climbed above the $1 threshold, marking a notable achievement in November’s crypto market resurgence. This surge comes as Ripple benefits from a broader rally, positioning the token as a significant force within the recovering cryptocurrency landscape. Despite this impressive milestone, uncertainty lingers, leaving investors to question if XRP’s price could dip below $1 again.

Could XRP Price Slip Below $1 Again?

After a strong rally last week, the top altcoin price shows signs of consolidation, with slight declines sparking market speculation. Analysts suggest a drop below $1 is unlikely unless Bitcoin’s price falls below $90,000. Current conditions present a favorable setup for long positions, provided Bitcoin maintains its momentum.

Experts predict XRP may rise toward $1.60 in the short term, potentially signaling a broader upward trend. However, risks remain tied to Bitcoin’s movements. A breakdown in Bitcoin’s price could push XRP below $1.10, confirming the completion of its Wave 1 cycle from $0.48 to $1.62.

Is Ripple Price Set to Rise Further or Fall Back 

Over the past 24 hours, the price of XRP has shown resilience, currently at $1.48. The cryptocurrency opened at $1.47 but faced fluctuations throughout the day, hitting a low of $1.31 before recovering strongly. The daily high of $1.48 reflects growing momentum in the market as XRP inches closer to breaking the $1.50 psychological barrier.

Crypto prices on 25 November saw a slight decline, as BTC dropped below $98,000, while ETH, SOL, and XRP also decreased.

If bearish trends dominate the market, the XRP price could retrace to $1.20, a key support level. Analysts caution that extended selling pressure might cause further price corrections, potentially dropping XRP below $1. A sustained bearish comeback could push XRP to test even lower levels, with $0.80 emerging as a potential near-term target.

The Relative Strength Index (RSI) in the four-hour timeframe stands at 61, indicating a neutral trend.

While XRP’s surge above $1 signals strength, market volatility and broader economic factors could challenge its momentum. Investors should monitor key support levels, market sentiment, and regulatory developments to assess whether the price may dip below $1 in the future.

✓ Share:

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.