XRP slipped below crucial support levels on Tuesday, trading at approximately $1.0055 as of 07:07 UTC on August 11, marking its weakest position since November 2024. The token breached the $1.0138 support zone identified in June and now tests the critical $1 parity level, with only that psychological barrier preventing a potential cascade toward significantly lower historical targets.
Technical analysis reveals bearish pressure intensifying. XRP remains trapped below its 50-day exponential moving average at $1.0962, which has acted as dynamic resistance throughout 2025. The 200-day EMA sits much higher at $1.3691, requiring a 36% rally just to test that longer-term trend boundary.
If $1 fails to hold on a daily close basis, analysts flag two downside targets: $0.6422, representing a 36% decline from current levels and matching resistance from mid-2024, and $0.4279, a brutal 57% drop to 2024 base levels. Confirmation requires sustained trading below parity followed by failed recovery attempts.
FXnCO Insight
Watch for a daily close below $1.00 with failed reclaim attempts as your trigger for protective action or short positioning toward the $0.64 target.
Source: Finance Magnates