XRP (XRP) broke below $1 on Tuesday for the first time since November 2024, printing a low of $0.99057 before buyers dragged the token back toward parity.
Key Points:
- XRP traded as low as $0.99057 on Tuesday, its first move under $1 since November 2024.
- Spot XRP funds in the U.S. drew about $1.01 million across a full week, while long liquidations topped $8 million in a single day.
- The Senate broke for recess without acting on the CLARITY Act, pushing the first procedural vote to Sept. 15.
XRP Price Loses The $1 Floor
The two-hour candle to 16:00 UTC opened at $1.00783 and printed the low before settling just under the round number, a drop of about 1.15% against Monday's close. The 14-period RSI sat at 28.70, already below the oversold threshold. Buyers were active beneath parity without reclaiming it.
Liquidations did much of the work. CoinGlass data showed roughly $8.45 million in XRP positions closed out over 24 hours, and longs accounted for about 97.6% of the total, with short liquidations barely registering.
Demand from funds had already thinned, with spot XRP products in the United States taking in only about $1.01 million between Aug. 3 and Aug. 7 and no net inflows at all on two later sessions. Network use slid in step, as XRP Ledger transactions fell from roughly 2.81 million on Aug. 5 to 1.57 million four days later. That is a decline of about 44% in under a week.
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Analysts Map XRP Downside Targets
Analyst Damian Chmiel identified $0.6422 as the first downside target should the token confirm a daily close under parity, a level roughly 36% beneath Tuesday's price that capped XRP repeatedly in 2024. A failure there would expose $0.4279, about 57% lower, while the 200-day exponential moving average sits far overhead near $1.3691.
Alex Marzell flagged the $1.04 shelf that had held every week since the 2024 breakout, arguing that a clean weekly loss of it points toward $0.75.
Not every read is bearish. Ali Martinez cited whale wallets adding more than 380 million tokens last week and a monthly buy signal on the chart, naming $1.06 as the level bulls must reclaim.
CLARITY Act Delay Weighs On XRP
The Senate left Washington for its August break without acting on the CLARITY Act, the bill that would settle how federal regulators treat XRP and other digital assets. Majority Leader John Thune filed cloture on the motion to proceed, setting a first procedural vote for Sept. 15 that needs 60 votes to advance.
XRP reclaimed $1 in November 2024, riding a post-election rally that eventually carried it to a high near $3.65 the following July before the trend turned.
The slide since has been gradual rather than violent. The token has shed more than 40% in 2026, leaving its market value near $64 billion and its performance last among the ten largest cryptocurrencies this year.
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