Ripple Price Forecast: Can XRP hold $1.00 support as 24-hour liquidations reach $20 million?

• Mounting selling pressure and a weak technical outlook keep XRP in a correction, trading near $1.00.
• Liquidations of more than $20 million over 24 hours deal a heavy blow to XRP derivatives.
• Despite deeply oversold conditions, XRP’s recovery potential appears restricted as the MACD stays negative.

Selling pressure continues to unsettle Ripple (XRP), which is trading near $1.00 on Friday. A steep sell-off in the remittance token has continued since November 5. The $6.3 billion Binance hack initially sparked the decline, which subsequently intensified following the United States (US) midterm elections.

Expectations of a December interest rate hike by the Federal Reserve (Fed) received further support from the US Consumer Price Index (CPI) report published earlier this week, which recorded a modest rise in inflation.

Are XRP liquidations adding to price pressure?

Demand for digital assets continues to be subdued, judging by the Fear & Greed Index reading of 20 in Extreme Fear territory on Friday, compared with 28 a day earlier. The sentiment reading is consistent with the continuing sell-off across the wider crypto market and XRP derivatives.

Long positions account for most of the average 24-hour liquidations of over $20 million, according to CoinGlass data. By contrast, short positions worth only $1.2 million were liquidated during the same period, suggesting that bulls are bearing the brunt of the losses. If liquidations persist, XRP could face additional pressure as more traders are compelled to exit their positions.

Technical analysis: Can XRP regain ground as sellers strengthen their grip?

At $1.03, XRP retains a pronounced bearish bias, trading substantially below both its short- and long-term Exponential Moving Averages (EMAs) and the active SuperTrend line. A tightly packed set of overhead barriers continues to weigh on the pair. The 10-day SuperTrend at $1.19 is the first hurdle, 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.

The momentum indicators also favour the downside. The Moving Average Convergence Divergence (MACD) shows a weak profile in negative territory, while a Relative Strength Index (RSI) reading of 22 places XRP deep in oversold territory. Although selling pressure remains intense, these conditions suggest that any corrective bounce is more likely to be short-lived than the start of a sustained recovery for now.

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

Beyond those levels, a wider medium-term resistance zone is formed by the 100-day EMA near $1.29 and the 200-day EMA around $1.34. This band would likely restrain any rebound, with the broader structure remaining bearish while XRP stays below the cluster.

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