XRP is trading around $1.03 to $1.04, with the $1.05 area now acting as resistance rather than support. The token—one of the largest cryptocurrencies by market capitalization and closely associated with Ripple's cross-border payment infrastructure—has been under steady pressure and is hovering just above the psychologically important $1.00 level.

The price recently logged its lowest daily close of 2026, near $1.02, after breaking an ascending support trendline and retesting June lows. That move reinforced the bearish structure that has developed over the past several weeks.

Analyst ChartNerdTA flagged the breakdown on July 31, pointing to repeated rejections from the 20-day and 50-day exponential moving averages, as well as several failed attempts to reclaim the $1.16 to $1.24 resistance zone. The analyst said any rebound is likely to remain limited unless XRP can clear those levels.

"CONFIRMED! $XRP just printed its lowest daily close of the year while officially tagging back into the recent June low territory. This comes ahead of multiple 50 EMA rejections over the last 8/10 weeks, & a more recent rejection at the daily 20 EMA that opened this drop to $1.01. pic.twitter.com/CI7kCFmJfu — 🇬🇧 ChartNerd 📊 (@ChartNerdTA) August 7, 2026"

On TradingView, another analyst identified a bearish break of structure after XRP lost the $1.0473 swing low. The 21-period EMA near $1.0527 and the 55-period EMA near $1.0669 are now acting as overhead resistance. A four-hour close above the 55 EMA would be needed to change the current outlook.

Why $1.00 Matters

Independent analyst Rocksorgate described the $1.00 level as one of XRP's most important long-term support zones. The level lines up with the 0.618 Fibonacci retracement from XRP's broader multi-year advance.

"If $1.00 snaps on high volume," Rocksorgate wrote, "the bullish market structure breaks completely."

Additional technical levels remain above the current price. The 50-day EMA is at $1.11, clustered with the SuperTrend line. The 100-day EMA stands at $1.19, while the 200-day EMA is at $1.39. Each sits above XRP's current trading range and represents another layer of resistance.

Momentum indicators also remain weak. The RSI is hovering near 37 to 38, while the MACD remains below its signal line in negative territory. Nearly every major moving average from the 10-period through the 200-period EMA is currently generating a sell signal.

Whales Accumulate as Retail Exits

Despite the price pressure, larger holders are still adding exposure. Wallets holding between 100 million and 1 billion XRP now account for 11.79% of the circulating supply, up from 11.65% the previous day, according to Santiment. Exchange balances are also falling, suggesting that larger holders are moving tokens off exchanges—a pattern that on-chain analytics firms have documented during prior crypto market downturns.

Crypto Patel, a widely followed technical analyst, said on August 8 that he had called XRP's 72% drop from its cycle top back in July 2025, when many analysts were still bullish. He now sees a macro accumulation zone between $0.65 and $0.85 and expects another 20% to 40% downside before any major recovery. Patel's longer-term targets remain $3, $5, $7, and above $10.

"$XRP : The Analysis Everyone Laughed At… Until It Dumped 72% In July 2025, when most of the market was calling for higher prices, I published a bearish #XRP analysis and clearly stated that the rally was losing structure. I advised taking profits above $3 and warned that a… pic.twitter.com/aUkxE6fZSQ — Crypto Patel (@CryptoPatel) August 8, 2026"

The Fear & Greed Index currently reads 29, which places the market in Fear territory and marks a slight increase from 25 the day before. Readings in this range have historically coincided with periods of heightened selling pressure across the broader crypto sector.

Analysts are watching $1.026 as the first support zone, with stronger support near $0.99. The next liquidity target identified by analysts is $1.015.