XRP Is on Track for 15% Drop: Will $1 Price Level Maintain?

The $XRP token is stuck dangerously close to losing its key status as a $1 altcoin as the current monthly $XRP/USD chart by TradingView shows that the coin has exactly 15% left to fall before testing the lower boundary of the Bollinger Bands.

The situation is becoming more dangerous because the current price slide is taking place against the backdrop of a sharp compression in the Bollinger range itself. Historically, this has signaled not just a prolonged flat market, but a powerful impulsive breakout that could decide the fate of the $1 level for the coming years.

$XRP bears eye $0.93 after losing key Bollinger support

As of today, $XRP is trading at $1.1233, showing a 15.62% decline for the current monthly period. The chart clearly shows that after breaking below the Bollinger Bands' middle line, the 20-period moving average at $2.0620, it's the lower band of the indicator at $0.9306 that now acts as the prime target.

This gap to the lower band coincides with a large cluster of stop-losses on leveraged long positions, according to CoinGlass data, and their triggering could launch a cascade of automatic liquidations as $XRP approaches the psychological threshold.

$XRP's current weakness clearly shows that the presence of spot US $XRP ETFs is doing nothing to stop the token's prolonged decline. Although institutional funds are holding cumulative inflows at $1.43 billion and are even selectively buying the dips, these modest injections are being completely absorbed by the broader collapse in market trading activity.

The external backdrop is making the situation worse, as the expected June 12 listing of SpaceX shares has generated massive excitement and pulled the attention of global capital toward itself. While ETF structures passively hold their positions, the retail market simply cannot find the strength or volume to resist the bearish trend.

If institutional "whales" do not activate their dormant limit orders near the historical support level of $0.9306, a breakdown below the lower Bollinger Band will finally lock $XRP below the dollar range for the rest of the summer.