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$XRP price fell below $1 for the first time in two years, part of a broader pullback across crypto markets this month. $XRP touched a low of nearly $0.99 on August 11 before rebounding to about $1.02. The move shows wider pressure across crypto markets rather than anything specific to $XRP itself. $XRP’s total market value fell roughly 29% over the past three months, data show, tracking a broader slowdown that has weighed on most major cryptocurrencies during that stretch.
Large Holders Moving the Opposite Direction
While the price fell, ownership data pointed to a different trend beneath the surface. Wallets with at least 1 million $XRP added 32 new addresses during the recent dip, a sign that some large holders were buying as smaller retail investors sold. That kind of divergence, larger holders accumulating while price falls, is often watched closely as a signal of longer-term confidence, even during short-term weakness.
A Mixed Reaction From the Community
Reaction across social media has been split. Some longtime holders describe the drop below $1 as a buying opportunity, pointing to Ripple’s ongoing work in cross-border payments as a reason for continued confidence in the token’s long-term use case. Others are more skeptical, questioning how much further the price could fall before finding a floor.
What Chart Analysts Are Watching
One chart analyst who has called $XRP’s broader downtrend for close to a year says the token remains in a longer-term bear market that has been running since last summer. He pointed to a recent lower low in $XRP’s price, while a separate momentum measure showed early signs of stabilizing, a pattern he described as tentatively bullish, though not yet confirmed.
He said that signal would need a few more days of price action to hold up. A close below $1 could open the door to a drop near $0.92 too, identifying that level as the next area of support if $XRP fails to hold above the dollar mark. If $XRP manages instead to close back above $1 and stay there, he said the case for a near-term bounce would strengthen.
coindesk.com
ambcrypto.com
