Nebraskangooner Says XRP Is a Great Example of When Not to Buy: “Quit Knife Catching Early”

$XRP’s breakdown below a major support zone has turned increasingly costly for traders attempting to buy each successive dip, with price now near $1.08 after failing to reclaim the former $1.28-$1.31 support region.

Trader Nebraskangooner pointed to $XRP as an example of why a cheaper price does not necessarily mean an asset has become a better buy after its market structure breaks.

“$XRP is a great example of when to NOT BUY,” he said, adding that once major support fails, sellers can take control and continue pushing price lower. His message was straightforward: “Quit knife catching early!”

CoinMarketCap currently places $XRP around $1.08, with the asset trading between approximately $1.08 and $1.16 over the latest 24 hours.

$XRP Lost $1.28-$1.31 and Failed the Retest

The daily Binance structure shows why the breakdown matters.

$XRP spent much of October repeatedly interacting with the $1.28-$1.31 region. That area initially acted as support, allowing several recovery attempts after price retreated from the $1.50 range.

The structure changed once $XRP decisively moved below it.

Price initially bounced after the breakdown and returned toward the underside of the former support zone. Instead of reclaiming the level, $XRP was rejected, producing a classic bearish retest in which old support begins functioning as resistance.

From approximately $1.31 to the current $1.08 area, $XRP has fallen about 17.6%.

The Crypto Basic previously highlighted $XRP’s break below its former swing low as confirmation that sellers had taken control of the short-term structure.

Why Buying Every $XRP Dip Has Been Risky

The decline has included several temporary rebounds.

Those short-lived recoveries can make lower prices appear attractive, particularly after $XRP has already fallen substantially from previous highs. But the sequence of lower highs and lower lows means each rebound has so far occurred inside a broader bearish structure.

That is the core risk behind “knife catching.”

A falling asset can become progressively cheaper without establishing support. Buying simply because $XRP has declined from $1.30 to $1.20—or from $1.20 to $1.10—does not establish that selling pressure has ended.

The same issue became visible when $XRP lost $1.26. At that point, The Crypto Basic identified $1.10 as the next major downside area. Price has now reached and moved slightly beneath that region.

$1.07-$1.10 Is Now the Immediate Test

The Nov. 9 Binance daily candle opened at approximately $1.1132, reached $1.1264, and fell as low as $1.0764 before closing around $1.0939.

That puts $XRP directly inside the $1.07-$1.10 support region.

The Crypto Basic has separately identified $1.07 as one of $XRP’s final major support levels before deeper downside becomes increasingly relevant.

If $XRP loses this region on completed daily candles, the psychological $1 level becomes the next obvious downside reference.

At $1.08, a move to $1 would require another decline of roughly 7.4%.

What Would Improve the $XRP Structure?

The bearish structure would not materially change simply because $XRP produces another intraday rebound.

The first requirement is stabilization around $1.07-$1.10. Beyond that, buyers would need to begin reclaiming levels lost during the decline.

The larger structural test remains $1.28-$1.31.

That zone previously acted as support and then rejected $XRP during the attempted recovery. A sustained move back above it would provide much stronger evidence that sellers are losing control than simply buying another lower price.

Until then, $XRP remains an example of why price being cheaper and price being technically attractive are not necessarily the same thing.