XRP must hold $1 support to avoid further declines

XRP must defend the $1 support level to prevent further declines, according to an analysis by CryptoPotato. The publication noted that on the daily chart, XRP is trading within a distinct downward channel, suggesting a prevailing bearish trend for the medium to long term. Both the 100-day and 200-day moving averages maintain a downward slope and have formed a strong resistance zone around $1.25. However, buying pressure has emerged near the $1 mark since early June, which has so far halted additional losses. If this $1 support level fails, the price could see an accelerated drop toward the channel's lower boundary at approximately $0.80, the analysis explained.