XRP Slips Below $1 as Traders Debate the Next Move

XRP has struggled lately, dropping over 7 percent in the past week and sliding below the important $1 psychological support level. This shift in momentum has sparked a fierce debate across the crypto community. Some market watchers argue that the token is effectively dead, while others view this price drop as a chance to buy into the asset at a discount.

Technically, the outlook remains uncertain. Analysts are monitoring the price closely, noting that a failure to hold near current levels could lead to further losses toward $0.86. To turn the trend around, bulls need to see the price reclaim the $1.02 to $1.06 range. If the token fails to push back into this zone, many fear the bearish pressure will intensify.

Despite the negative sentiment, some indicators point toward a potential rebound. Data shows that large investors, often called whales, have scooped up 380 million tokens over the last week. This aggressive accumulation reduces the supply of XRP available on exchanges, which could support a price increase if buying demand picks up. Additionally, some technical indicators suggest a long term buy signal, hinting that the current dip might be a precursor to a larger recovery.