XRP, the native digital asset of the XRP Ledger, traded near $1.06 on November 11 as the broader cryptocurrency market continued to decline. The latest losses brought the token closer to the $1 support zone, where a potential third macro bottom is taking shape. Long-term projections still point to higher prices, although traders have yet to confirm a reversal, and heavy liquidations combined with persistent selling pressure remain obstacles to any recovery.

XRP Underperforms Major Peers Since Early November

XRP has recorded larger losses than several major cryptocurrencies since November 4. Figures shared by market analyst EGRAG Crypto on X put XRP's decline at 23.4%, compared with 18.2% for Ethereum, 17% for Solana, and 10.4% for Bitcoin. Over the past seven days, XRP lost more than 15%, and its monthly decline has approached 25%.

Comparisons against Bitcoin and other major peers are a standard yardstick for separating market-wide weakness from asset-specific selling, and on that measure XRP currently stands apart.

The selloff pushed XRP toward a support band between $1.00 and $1.04, an area that sits near a rising trendline that has underpinned several previous recoveries. The $1.00 boundary also carries weight as a round-number threshold that traders tend to watch. The token now faces a test of whether buyers can defend that structure. A sustained break below $1.00 would shift attention toward $0.99, while a recovery would bring $1.15 and $1.25 into focus. XRP currently trades below its 20-day, 50-day, and 200-day moving averages.

Triple Bottom and Cup-and-Handle Setups Take Shape

Long-term technical projections place XRP near a possible third bottom along an ascending support line, with earlier tests of that line occurring around 2020, 2022, and 2024. The latest pullback has returned the token toward the same broader structure. The proposed triple bottom remains incomplete until price stabilizes and confirms an upward move.

EGRAG Crypto's macro forecast, also published on X, identifies $13, $17, and $27 as possible Fibonacci targets following a confirmed recovery and subsequent breakouts. Those figures represent long-term scenarios rather than near-term price expectations, and the projection depends on a bullish reversal first being confirmed.

A separate analysis from ChartNerd identifies an eight-and-a-half-year cup-and-handle pattern, with repeated tests of a Gaussian trend indicator. That reading marks retracement levels near $0.89 and $0.74 as lower reference areas. Like the triple bottom, the projected cup-and-handle formation requires a breakout before it can confirm a larger advance.

Oversold Momentum Awaits Bullish Confirmation

The two-month stochastic relative strength index has returned to an extreme oversold region, according to chart work shared by EGRAG Crypto on X. Both oscillator lines sit near the bottom of their range and have started to flatten. Similar conditions developed during 2019–2020 and 2022–2023 before XRP later experienced sustained price advances, though those historical comparisons do not establish when the current decline will end. Oversold readings flag unusually intense selling relative to recent price action, but they can persist for extended stretches while a downtrend is still running.

The indicator offers several levels to monitor. A bullish crossover between the two lines would provide an early sign of improvement, while a move back above 20 would offer further evidence of recovering momentum. A reading above 50 would mark a stronger shift. For now, the oscillator remains near its lows, and an oversold reading by itself does not amount to confirmation that a bottom is in place.

Liquidations and Early-Holder Selling Add Pressure

Derivatives activity has added selling pressure during the recent decline. CoinGlass recorded nearly $39 million in XRP long liquidations compared with approximately $366,000 in short liquidations. Exchanges closed leveraged long positions as prices fell, adding sell orders during an already weak trading period, and long positions accounted for the bulk of liquidations that day. The imbalance between long and short closures illustrates how leveraged positioning amplified selling pressure, though the figures alone cannot explain the full extent of the market decline. A long-versus-short split in liquidation data is a way to gauge how much of a decline stems from forced leverage rather than deliberate selling.

Selling by early XRP holders offers another possible explanation for the token's relative weakness. Some long-term investors still hold gains from earlier purchases and may have reduced their exposure. Alongside the chart levels outlined above, the liquidation tallies and the pace of selling by long-standing holders are figures that can indicate whether the pressure described here is easing or building.

This article originally appeared on The Market Periodical.