XRP Price Sinks to $1.08 and Polymarket Says $1 Is Now a Coin Flip

The Level Traders Were Waiting For

$XRP dropped under $1.10 during Sunday’s marketwide flush, marking the first time since August that $XRP had been at these levels. The token is currently trading near $1.08, down about 6.7% over 24 hours, with a market capitalization of roughly $70 billion. The drop came as crypto liquidations topped $1 billion yesterday.

Analyst Casitrades had been waiting for exactly this print, citing $1.10 as a level where the asset’s decline may pause. She, however, added:

Based on that momentum, I think we could see another test of $1.10, potentially even pushing lower. New lows are eyeing $1.00 or the infamous $0.90.

The analyst also warned that BTC appears to have more downside ahead, which could add further pressure.

How $XRP Got Here

The slide has been steady as $XRP first fell from around $1.55 in early October to near $1.17 by Nov. 7, as open interest dropped 12.36%. A close below $1.2355 on the four-hour chart confirmed the breakdown, leaving resistance at the 21-day and 55-day exponential moving averages of $1.2578 and $1.2703.

The floors have been failing faster than analysts can draw them. Popular chartist Ali Martinez, for example, argued on Sunday that a hold of $1.14 could send $XRP back toward $1.30, and the token broke that level within hours.

Demand from the regulated side has offered little help as spot $XRP exchange-traded funds (ETFs) recorded zero net flows from Nov. 3 to Nov. 6, Bitcoin.com News reported, and October inflows sank to $18.8 million from $121.4 million in September. The funds’ net assets stood at $1.34 billion, or 1.82% of $XRP’s market capitalization.

Momentum readings are now stretched, and a 14-day relative strength index (RSI) sits near 28 (with one trader’s chart dipping as low as 24). Anything under the 30 level is treated as oversold by investors.

The long-term view seems to be even harsher given that $XRP is about 70% below its $3.66 record from July last year and its market value has shrunk from about $210 billion at that time.

The Bets on $1

Polymarket’s November contract gives $XRP 49% odds of dipping to $1.00 by month-end and just 6.9% odds of reaching $0.80. The round number has recent history, as $XRP dipped below $1 in mid-August for the first time in nearly two years before rebounding.

There is also a public wager on the table. Santiment has been tracking a call for $XRP to reach about $0.99, one that resolves on Nov. 19 and is invalidated by a close above $1.36. From $1.11, the target is about 11% away. Among the most profitable $XRP wallets Santiment follows, only one was long as of Nov. 6, while three active shorts had added about 2.1 million $XRP since late October.

Larger holders have told a different story, and wallets holding at least 1 million $XRP reached 2,147 last week, their highest count of 2026. Lastly, Santiment reported last month that whales controlled 68.5% of the token’s supply.

Ripple’s Good News Keeps Missing the Chart

The sell-off has rolled over some favorable corporate headlines. For starters, Brazil’s central bank now lists Ripple’s local unit as “under review” for a virtual asset license, after a filing made two days before the Oct. 30 deadline. The status is an early step and confers no authorization.

Similarly, when Ripple secured final approval for a national trust bank last month, the token stayed put between $1.29 and $1.31.