XRP tests $0.99 support as analysts warn of potential drop to $0.80

What happened

XRP traded below $1 for the first time since August as selling pressure intensified across cryptocurrency markets. According to CoinGape reporting from November 13 and 14, the token reached a low of $0.9818 and traded near $0.9923 by Saturday, down roughly 16% for November following an earlier 16% decline in October.

The slide brought XRP to a critical technical boundary. Analyst Ali Charts identified a downward-sloping channel with support near $0.99 as the token's immediate focal point. Charts noted that XRP had reversed sharply after failing to break through $1.55 resistance at the upper boundary of this channel. According to multiple reports including Blockonomi and Finbold, Charts warned that a sustained break below $0.99 could extend the correction to $0.80, representing roughly a 19% further decline from Saturday's price.

Liquidations and broader market weakness contributed to the move. The global cryptocurrency market fell 2.25% over 24 hours as total value contracted to $2.27 trillion. Bitcoin dropped 3.34% below $69,000, while Ether fell through $1,900. Higher expectations for US Federal Reserve rate increases in December, with Kalshi traders pricing in an 89% probability of a 25 basis point increase, made speculative assets less attractive relative to interest-bearing investments.

Why it matters

XRP's price action carries significance for the broader cryptocurrency market. A sustained break below the $0.99 support level could accelerate the token's decline and trigger further liquidations in leveraged positions, potentially amplifying downward pressure across digital assets. Conversely, a hold at this level could stabilize sentiment and test competing technical scenarios. Crypto With Gopal noted that holding the $1.00 zone could signal a potential double-bottom formation and trigger a bullish reversal, while a breakdown would strengthen the bearish case outlined by Ali Charts. The immediate technical battleground around $0.99, $1.00 will likely determine whether XRP recovers or extends losses over coming weeks.

What the data shows

Technical indicators showed weakness on the four-hour timeframe. According to CoinGape, the relative strength index stood at 32.29, just above the oversold threshold of 30, indicating potential exhaustion but not yet a confirmed reversal signal. The MACD was near minus 0.028 and below its signal line, consistent with weak momentum. XRP's seven-day decline of 14.50% indicated that selling pressure extended beyond a single session, according to Blockonomi citing CoinGecko data, which put 24-hour trading volume at $2.03 billion.

US spot XRP exchange-traded funds recorded net outflows on November 13. CoinGape reported $1.09 million in net outflows across the five-fund category. Grayscale's GXRP shed $5.54 million during the session, while Franklin Templeton's XRPZ attracted $4.45 million in inflows. Bitwise, Canary, and 21Shares posted zero net flows. Total trading in the category reached $22 million, with Bitwise accounting for $14.56 million. Cumulative net inflows for the category stood at $1.79 billion across $1.15 billion in net assets.

Background

XRP's recent decline occurred against a backdrop of broader cryptocurrency market stress. According to Finbold reporting, if the $0.80 target were reached, XRP would trade at levels unseen since Donald Trump's 2024 election victory. The token would have fallen 36% from its current levels and 65.96% from 2026 highs near $2.35. The cryptocurrency market itself contracted from a $2.6 trillion valuation at the start of November to $2.31 trillion as of November 13, wiping nearly $300 billion in value across the sector.

Support and resistance levels serve as technical reference points where trading activity typically clusters. When an asset sustains a move through either boundary, it can signal a change in the market's technical outlook. Blockonomi explained that traders monitor these levels because they represent areas where buyers or sellers have previously demonstrated conviction. For XRP, the $0.99 level marks the lower edge of a defined trading channel, while $1.55 represents the upper boundary that the token recently failed to penetrate.

What to watch

The $0.99 support level is the immediate focal point for traders. According to CoinGape, if this level fails, the next support on the four-hour chart sits at $0.95, with $0.85 positioned above Ali Charts' $0.80 target. On the upside, XRP must reclaim $1.00 to reset the technical picture. A close above that level would target $1.10 as the next resistance, according to technical analysis provided in the reports. The competing scenarios, a double-bottom reversal versus an extended correction, hinge on price action around this critical zone in coming sessions.

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