XRP Struggles Below $1 Support as Bearish Trends Continue

XRP Struggles Below $1 Support as Bearish Trends Continue

XRP’s price has recently faced significant challenges, slipping by 2.8% over the past week and briefly falling below the crucial $1 psychological support on August 17, 2026. This decline has been attributed to weak market momentum, persistent capital outflows, and a broader downtrend that keeps buyers on the defensive.

Current Price Trends

As of August 17, the token’s price hovers around $1.00 after dropping close to $0.98 during the recent sell-off. Market analyst Crypto Patel noted that XRP has experienced a considerable loss of around 73% from its cycle high of over $3, further complicating its recovery efforts as it continues to print lower highs and lower lows.

Market Dynamics

The decline in XRP has accelerated, as the price fell from approximately $1.14 in early August to near $0.98, momentarily rebounding to the $1.00 level. However, buyers have struggled to achieve a sustained daily close above the nearby resistance levels. Analysts point out that a close below $1 would affirm that sellers maintain control over price direction, while a quick recovery could signal a false breakdown.

Resistance and Support Levels

According to daily Bollinger Bands, immediate resistance is noted at $1.037, with support situated around $0.975. The negative daily Chaikin Money Flow indicates that selling pressure continues to dominate, which undermines the prospects for a durable recovery. A price breakout above $1.037 would provide a critical turning point, whereas persistent trading below $0.975 could lead to further declines toward levels of $0.96 and $0.98.

Short-Term Outlook

The 4-hour chart indicates a slight improvement, with XRP trading around $1.001 and registering a Chaikin Money Flow of 0.09, hinting at potential buyer interest. Nevertheless, higher short-term resistance is once again established around the Ichimoku cloud at $1.017, which has exhibited downward sloping momentum since late July.

Market Sentiment and Future Projections

Current market sentiment remains a mixture of caution and hope. Analyst Crypto Patel has suggested the potential for a further 20% to 40% drop before a major reversal could take place. Meanwhile, other analysts perceive XRP as testing a long-term trendline and possibly forming a bullish divergence, providing differing interpretations of the token’s future direction.

The immediate trading environment for XRP will depend on its ability to reclaim the $1.037 level and maintain stability above the $0.975 support, as buyers navigate through potential volatility near key liquidity pools.