XRP is back at the $1 line, and the next break could be costly. The token traded near $1.03 on November 13 after losing around 15% in a week.
It briefly slipped below $1 during Friday’s sell-off before recovering, leaving buyers with little room for another setback.
The bigger concern is that XRP’s technical structure continues to weaken. A sustained breakdown could expose another 20% decline, even as oversold signals suggest a possible short-term recovery.
Why XRP Could Fall Another 20%
The most important level now sits near $0.99, the lower boundary of a descending price channel that has contained XRP’s recent decline.
An earlier recovery stalled near $1.55, and subsequent rallies have struggled to regain lost ground. The pattern suggests sellers remain in control.
If XRP loses $0.99 decisively, the next support zones sit around $0.97 and 0.93–0.96.
Continued selling could eventually push the price toward $0.80, roughly 22% below $1.03.
A brief dip below support would be less significant than repeated daily closes beneath it, particularly if selling volume increases.
The broader cryptocurrency crash adds to the risk. Bitcoin fell below $69,000 on Friday as inflation concerns, fund outflows and liquidations weighed on the market.
Could XRP Price Recover Instead?
XRP’s daily Relative Strength Index (RSI) has fallen into the low 20s, indicating unusually heavy selling pressure. Such conditions can precede a relief rally.
Historical data offers some encouragement. Research covering 17 previous oversold XRP signals found that 70.6% produced positive returns after 90 days. However, the median deepest drawdown during those periods reached 21.8%.
As Bitrue Research cautioned:
“Oversold readings show that selling has been intense, not that it has ended.”
For a recovery, XRP must first clear 1.09–1.11, followed by 1.15–1.16. Reclaiming 1.20–1.25 with stronger buying volume could open the path toward $1.38.
Until then, $0.99 remains the key level separating a potential recovery from a deeper correction.
Source: BeInCrypto