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$XRP has recorded its first weekly close below the important $1 level since the November 2024 rally helped it reclaim the mark.
The token fell below $1 several times last week, but buyers initially stepped in to protect the level. The first drop came on Tuesday, Aug. 11, 2026, when $XRP slumped to $0.9910. Buyers responded almost immediately, helping $XRP recover and end the day with a 1.03% gain.
The same thing happened on Thursday, Aug. 13, when $XRP dropped to $0.9975. Buyers again defended the $1 area, allowing $XRP to recover and close the day above $1 with a 0.38% gain.
However, the defense did not last. On Aug. 14, sellers pushed $XRP down to a new yearly low of $0.9874. $XRP eventually closed that day below $1, marking its first daily close under the level since the November 2024 rally.
Meanwhile, $XRP recovered above $1 on Saturday, but sellers returned on Sunday. The token dropped to $0.9901 before closing the day and the week at $0.9925, representing the first weekly close below $1 since November 2024, when the rally had helped it move back above the psychological level.
$XRP Continues to Test $1
$XRP has moved back above $1 at the start of the new week, but the price remains in a weak position.
The token currently trades at $1.0002, only slightly above the key level. Its recent price action also shows repeated tests of $1, similar to the way it tested earlier support levels before breaking below them and turning those levels into resistance.
Notably, from mid to late June, $XRP repeatedly tested the $1.1304 support. The token eventually lost that level on June 23, after which $1.1304 became resistance.
$XRP later showed a similar pattern from late July to early August, when it repeatedly tested the $1.06 support. Sellers eventually broke that level on Aug. 6, and $1.06 has since turned into resistance.
$XRP is now showing the same behavior around $1. The repeated tests may keep the level under pressure, especially after the token failed to hold it on a weekly closing basis.
Fibonacci Levels Show the Next Supports
$XRP has already fallen below the 0.888 Fibonacci retracement level at $1.0057. This leaves the Fibonacci 1 level as the next key support, around the Aug. 14 yearly low of $0.9874.
If $XRP loses the $0.9874 area, the next support comes from the Fibonacci 1.272 level at $0.9443. Below that, traders may look toward the Fibonacci 1.414 level at $0.9226 as the next area where buyers could attempt to stop the decline.
These levels become important if $XRP fails to regain $1 and hold above it. The recent breakdown also shows why reclaiming the psychological level could be important for preventing the current support from turning into another resistance zone.
Meanwhile, $XRP’s daily RSI has fallen to 36.65, showing that bearish pressure remains strong. However, the indicator has not yet fallen below the 30 level, which means $XRP has not reached the traditional oversold zone.
A short-term recovery remains possible, but the RSI also shows that $XRP could fall further before reaching extreme oversold conditions.