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With an abrupt sell-off, XRP has fallen over 11% in the last day and broken through its 200 EMA support level at $1.19. The asset is currently trading below $1.70, indicating a very bearish reversal and raising the prospects of adding a zero — a term used in the cryptocurrency community to describe a sharp decline in price to a lower decimal threshold.
The entire cryptocurrency market is currently experiencing a severe correction, as evidenced by the $1.33 billion in asset liquidations that have occurred in the past day. In the cryptocurrency world, this Black Monday was brought on by rising trade tensions between the U.S. and China as the recent imposition of harsh tariffs has caused investors to flee riskier assets like cryptocurrency.
Additionally, XRP's precipitous decline coincides with a resoundingly negative shift in public opinion toward altcoins. The prior descending wedge formation has completely collapsed, according to technical indicators. It is now a bearish trap instead of what once appeared to be a possible recovery springboard. The next probable target is $1.50 if bulls do not quickly retake the key support level at $1.95, which failed to hold.
In the near future, psychological support at $1.00 might be tested below that. The general change in sentiment across Bitcoin markets, where open interest has increased while price declines — a sign that traders may be aggressively shorting — adds even more pressure. A shift toward pessimism and defensive positioning is also reflected in funding rates and volume deltas.
Despite its history of surviving harsh market cycles, XRP is currently in a very precarious position due to a confluence of investor anxiety, technical failures and macroeconomic headwinds. It is not impossible that XRP could return to sub-$1 levels if momentum keeps up, adding a zero in the most literal sense. The $1.00 and $1.50 levels should be closely watched by investors as a possible last resort.