XRP Drops Below $1 as Analysts Predict Further Volatility

XRP is facing a tough August after losing its grip on the $1 support level. Market analysts are currently warning that the token might face a further decline of 20 to 40 percent. This potential slide could push the price into a macro accumulation zone between $0.85 and $0.65 as the market continues to search for a solid floor.

Short term technical indicators offer a slightly more nuanced view. While the price action remains flat, some traders note that the 4 hour RSI is starting to stabilize. Bulls are currently looking for a clear move above $1.015 and $1.081 to regain momentum. If the price fails to hold these levels, a drop toward $0.90 or even $0.86 could be next on the charts.

Despite the recent price struggle, institutional interest remains high. Several major financial firms reported increased exposure to XRP exchange traded funds at the end of the second quarter. Jane Street Group significantly grew its holdings in Bitwise XRP ETFs, while firms like Morgan Stanley and Bank of America also disclosed new positions in various XRP investment products.

This gap between retail price performance and institutional buying activity suggests a long term belief in the asset despite the current chop. For now, market participants are watching to see if the price absorbs the ongoing selling pressure at the $1 level or if the downward trend will continue.