XRP traded at $1.10 on Wednesday, down 0.44% over 24 hours, as the token continued to test a critical support level that analysts say will determine its near-term direction.
The $1.13 zone remains the focal point for anyone tracking XRP’s price structure. The token has dipped below it on several occasions over recent sessions only to recover back above it each time, a pattern suggesting the support is holding but under growing strain. What analysts are watching for is a confirmed weekly candle close below $1.13, a development that has not yet occurred and which carries significantly more weight than any intraday breach.
The distinction matters because weekly closes reflect sustained selling pressure rather than short-term volatility. Until one confirms below $1.13, the floor technically remains in place.
Downside Targets If Support Breaks
A confirmed break below $1.13, particularly if XRP fails to reclaim that level in subsequent sessions, would open the path toward the $0.90 to $1.00 support zone, representing a further decline of between 10% and 20% from current prices. Below $0.90, analysts point to $0.70 as the next significant level, which would mark a drawdown exceeding 35% from where XRP currently trades.
Neither scenario is considered imminent given the oversold conditions across the broader market.
Short-Term Outlook
XRP is expected to track Bitcoin’s price action closely over the coming days, as it has throughout the current bear market cycle. A relief bounce or a period of sideways consolidation is the most likely near-term scenario as oversold signals across multiple timeframes continue to unwind.
The longer-term bearish trend remains intact and no confirmed reversal signal has appeared on the weekly chart. The next few weekly closes will be the ones that matter most.