XRP Prices Plummet Near Critical $1 Support Level

XRP's price has been sliding downward, nearing its critical support level of $1. This follows a loss of the major multi-month support around $1.30, resulting in increased selling pressure and a bearish trend.

The cryptocurrency is currently trading below all major moving averages, indicating continued dominance by sellers. While the Relative Strength Index suggests that selling momentum may be overstretched, the price action depends on whether bulls can defend the $1 level.