XRP Drops 4.5% After Failing to Hold Key Support Level

XRP has seen a significant price drop of 4.5%, failing to hold the crucial $1.13 support level amid elevated trading volume. This breakdown has shifted traders' focus to whether the current selloff represents a final market washout or the precursor to a deeper decline towards the $1.00 mark. Several analysts had previously identified the $1.09 area as a key Fibonacci support level that XRP had been approaching for months. The cryptocurrency continues to trade below its 100-day and 200-day moving averages, underscoring a broader bearish trend despite occasional rallies. Trading activity surged during the selloff, indicating a significant repositioning event. The loss of $1.13 support is now considered the primary resistance level for any recovery attempts. The $1.10-$1.12 zone is now the critical support area to watch, with a decisive break lower increasing the risk of a move towards $1.00 and potentially the $0.80-$0.90 region. On the upside, reclaiming $1.13 would ease immediate downside pressure, with larger resistance seen at $1.20 and the $1.35-$1.40 zone.