- XRP is trading around $1.00, clinging to the dollar price line it has defended for 635 consecutive sessions since Trump’s 2024 win.
- The daily chart is bearish with a death cross, and the weekly chart’s bullish golden cross is converging, signaling a potential trend shift.
- XRP is in deep oversold territory, with whales buying near $1 as a bridge exploit briefly pushed the price below the key support level.
XRP is clinging to the $1.00 price line on Monday, trading at $1.0046 after briefly dipping to $0.9882, as the token defends a 635-day streak of closing above the dollar. The broader crypto market is grinding through an extended bear market, with Bitcoin stuck below $64,000 and Ethereum struggling to hold $1,900. The daily chart has already turned bearish, with XRP’s 50-day exponential moving average crossing below its 200-day EMA, forming a “death cross” that confirms sellers have controlled the short-term trend. Consequently, the weekly chart’s bullish “golden cross” structure is converging, as the 50-week EMA grinds toward the 200-week EMA from above. The weekly Average Directional Index reads 33.7, signaling a strong downward trend that is pointed in the wrong direction for long holders.
A bridge exploit that drained approximately $200,000 from the TX Chain and XRP Ledger connection pushed XRP briefly under $1 on August 11 and August 14, though buyers stepped back in before the daily close both times. Meanwhile, Standard Chartered analyst Geoff Kendrick cut his 2026 XRP price target from $8 to $2.80 in the first quarter, while Bloomberg reported that AI firm Anthropic posted $11.5 billion in quarterly revenue and is meeting banks about a possible IPO. Whales have reportedly bought roughly 380 million XRP near the $1 level over the past week, but they are doing so alongside $1.5 billion in freshly opened leveraged long positions. The most obvious resistance sits near $1.07 to $1.09, with $0.98 as this week’s low support level.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
