Ripple Price Forecast: XRP risks breaking below $1.00 support as 24-hour liquidations reach $20 million

• At around $1.00, XRP is undergoing a correction as selling pressure intensifies and technical signals weaken.
• Liquidations of more than $20 million over 24 hours underline the strain on XRP derivatives.
• A negative MACD reading and deeply oversold conditions leave XRP with apparently limited scope for recovery.

At around $1.00 on Friday, Ripple (XRP) continues to trade nervously. The remittance token has suffered a steep decline since 5 November, first prompted by the $6.3 billion Binance hack and subsequently intensified by the United States (US) midterm elections.

A modest rise in inflation, shown in the US Consumer Price Index (CPI) report published earlier this week, has strengthened widespread expectations of a December interest rate increase by the Federal Reserve (Fed).

XRP comes under pressure as liquidations mount

Friday’s reading of the Fear & Greed Index stood at 20 in Extreme Fear territory, compared with 28 a day earlier, underscoring the pronounced lack of appetite for digital assets. The reading is consistent with continued selling across the wider cryptocurrency market and XRP derivatives.

Long positions account for most of the average 24-hour liquidations of more than $20 million reported by CoinGlass. By contrast, just $1.2 million of short positions has been liquidated during the period, leaving bullish traders bearing the brunt of the losses. Should liquidations persist, XRP could face further pressure as additional traders are compelled to close positions.

Technical analysis: Sellers tighten their grip on XRP

At $1.03, XRP retains a distinctly bearish bias, trading well below both its short- and long-term Exponential Moving Averages (EMAs) and the active SuperTrend line. A tightly packed set of overhead levels continues to weigh on the pair. The 10-day SuperTrend at $1.19 is the first barrier, followed by the 50-day EMA at $1.26, the descending resistance trendline break level at $1.27, the 100-day EMA at $1.29 and the 200-day EMA at $1.34.

Weak momentum adds to the bearish picture. The Moving Average Convergence Divergence (MACD) indicator remains below zero with a subdued profile, while a Relative Strength Index (RSI) reading of 22 places XRP deep in oversold territory. Although selling pressure is substantial, these conditions suggest the market may be prone to brief corrective rebounds rather than a lasting recovery at this stage.

The available dataset identifies no significant support beneath the prevailing price, leaving the crucial $1.00 demand zone in focus. Above the market, the SuperTrend level near $1.19 presents the first obstacle to a recovery. Only a daily close above that barrier would relieve immediate selling pressure, bringing the 50-day EMA at $1.26 and adjacent descending trendline resistance at $1.27 into view as the next ceilings.

Beyond those levels, a wider medium-term resistance zone comprises the 100-day EMA near $1.29 and the 200-day EMA around $1.34. This band would probably constrain any rebound; while XRP remains beneath it, the broader technical structure stays bearish.

(The technical analysis of this story was written with the help of an AI tool. Know more.)