XRP Faces Make-or-Break Moment at $1.13 Support

XRP is struggling to hold onto its current price level as it tests one of its key support levels. The $1.13 mark has acted as a crucial floor for XRP over the past week, and right now, the price is precariously close to breaching it. If XRP fails to recover above this level, the next major target could be between $0.90 and $1.00, which would represent a significant new low for the cycle.

This downward pressure on XRP is largely due to its close correlation with Bitcoin's price action in the short term. As Bitcoin continues to struggle, it's dragging XRP and many other altcoins down with it.

The situation is precarious, with minor support levels sitting between $1.08 and $1.10, but these would offer little comfort if the bigger weekly support breaks.