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$XRP price has posted its lowest daily close of 2026 amid ongoing selling pressure as the coin lags behind Bitcoin.
While a short-term bounce remains possible, technical analysts say the overall downtrend is still intact.
According to TradingView data, $XRP closed at $1.027 on Aug. 6, its weakest daily close of the year. Notably, the token briefly dipped to $1.009 on June 26 but recovered before the daily candle closed.
At press time, $XRP was trading around $1.02, putting a breach below the psychological $1 level back in focus. For context, a break below it would mark $XRP’s first move under $1 since November 2024.
Expects a Relief Bounce
Technical analyst ChartNerd highlighted the milestone on X. The analyst noted that $XRP has returned to the June low region after repeated rejections at key moving averages.
According to ChartNerd, $XRP has been rejected at the 50-day exponential moving average (EMA) in eight of the past 10 weeks. More recently, the token also failed to reclaim the 20-day EMA, helping drive the latest drop toward $1.01.
The daily chart also shows $XRP breaking below an ascending support trendline before revisiting a gray demand zone near the June lows. Even so, ChartNerd believes the current support area could trigger a short-term rebound.
“Highly likely we witness a decent bounce here,” the analyst wrote. However, he expects any recovery to be a relief rally, not the start of a lasting trend reversal.
$XRP Still Losing Ground to Bitcoin
In a separate post, ChartNerd argued that $XRP looks even weaker against Bitcoin. The analyst said $XRP has fallen nearly 17% against $BTC since mid-June. In ChartNerd’s view, that underperformance is likely to continue through the rest of the year.
The analyst also urged traders to respect the ongoing pattern of lower highs until the market confirms a structural breakout.
ChartNerd made the comments while responding to market commentator Jake Claver, who suggested $XRP could briefly break below support before staging a rally, similar to previous market cycles.
ChartNerd disagreed. He argued that $XRP is more likely to continue lagging behind Bitcoin following a recent breakdown in market structure.
Stronger demand, the analyst added, appears to be waiting at lower price levels. Historically, those areas have preceded periods of $XRP/$BTC outperformance and stronger $XRP/USD rallies.
For now, $XRP remains at a key technical level. Traders are watching whether support around $1.01 can hold. If it fails, the token could fall below $1 for the first time in nearly two years.
$XRP/$BTC Price Action
$XRP’s price dipped by 0.81% over the past day, worsening its monthly performance to a 4% decline and its year-to-date performance to 45.42%. Meanwhile, Bitcoin gained 0.33% over the past day, with positive monthly gains of 4.64%.