XRP Plummets to Post-Election Low, Analysts Warn $1.00 Level Could Be Next
XRP, the digital token closely associated with cross-border payments firm Ripple, is facing intense selling pressure amid a broad crypto market retreat led by Bitcoin's decline.
The asset dropped to $1.44 on Thursday, marking its lowest point since November 2024—a month etched in market memory for the U.S. presidential election victory of Donald Trump, who had championed crypto-friendly policies during his campaign. The initial market euphoria following that political event, which had propelled XRP above $3.50 last year, has now fully evaporated.
Technical charts reveal a troubling picture for holders. The token has decisively broken below the $1.60 support level, a price floor that successfully halted a sell-off in April. This breach suggests bearish momentum is now dominant, with analysts pointing to a concerning lack of historical support or substantial trading volume all the way down to the key psychological barrier of $1.00.
"The breakdown is significant," said Marcus Chen, a Singapore-based market strategist. "With that major support zone gone, the path of least resistance is lower. The market is essentially testing how deep the liquidity goes before finding a new base."
Trading activity on derivatives platforms underscores the pessimistic shift. Data from leading options exchange Deribit showed increased demand for bearish put option spreads and volatility bets over the past day, indicating traders are positioning for further downside or major price swings.
Market Voices:
"This is a brutal but necessary correction. The entire market got ahead of itself on regulatory hopes. XRP's utility in payments is real, but it's not immune to macro crypto sentiment." — Priya Sharma, Fintech Portfolio Manager.
"It's a bloodbath fueled by leverage and panic. The so-called 'Trump trade' is completely unwinding. The pro-crypto rhetoric met the reality of a high-interest-rate environment, and reality won. Retail investors are getting crushed again." — Jake Torrence, Independent Trader (sharper tone).
"We're seeing a flight to quality, or at least perceived quality, with capital moving out of altcoins. The break below $1.60 was the technical trigger. The focus now is whether institutional buyers step in before $1.00." — David Weller, Chief Analyst at Digital Asset Insights.