XRP price has risen above the $1 mark, marking a significant achievement in the cryptocurrency market's recovery in November. During this surge, Ripple benefited from a broader rebound, making the token a significant force in the recovering cryptocurrency space. Despite achieving this impressive milestone, uncertainty remains, leading investors to question whether XRP's price will fall below $1 again.
Will XRP price fall below $1 again?
After a strong rise last week, top altcoin prices show signs of consolidation, with slight declines triggering market speculation. Analysts state that unless Bitcoin's price falls below $90,000, a drop below $1 is unlikely. As long as Bitcoin maintains momentum, the current situation provides favorable conditions for bullish positions.
Experts predict that XRP may rise to $1.60 in the short term, which could indicate a broader upward trend. However, risks remain tied to Bitcoin's movements. A decline in Bitcoin's price could push XRP below $1.10, confirming the completion of its Wave 1 cycle from $0.48 to $1.62.
Will Ripple's price rise further or retract?
In the past 24 hours, XRP's price has shown resilience, currently at $1.48. The cryptocurrency opened at $1.47 but fluctuated throughout the day, hitting a low of $1.31 before a strong rebound. The daily high of $1.48 reflects an increase in market momentum as XRP gradually approaches the psychological barrier of breaking $1.50.
On November 25, cryptocurrency prices fell slightly, with BTC dropping below $98,000, and ETH, SOL, and XRP also experiencing declines.
If a bearish trend dominates the market, XRP price may retrace to $1.20, which is a key support level. Analysts warn that sustained selling pressure could lead to further price corrections, potentially pushing XRP below $1. Continued bearish pullbacks could drive XRP to test lower levels, with $0.80 becoming a potential near-term target.
The relative strength index (RSI) over four hours is 61, indicating a neutral trend.
Although XRP breaking above $1 indicates strong momentum, market volatility and broader economic factors may challenge its strength. Investors should closely monitor key support levels, market sentiment, and regulatory developments to assess whether prices will drop below $1 in the future.