XRP price is approaching $1 for the first time since November 2024, turning market sentiment negative, while the current price action eyes another 9.50% decline.
The XRP price is continuing its bearish move for the third straight day. Today, August 11, 2026, the asset declined 2.65% over the past 24 hours and reached $1, a level it had not seen since November 2024.
With today’s downside move, XRP’s broader market sentiment shifted negatively, which is now strengthening its bearish outlook.
CryptoQuant, an on-chain analytics tool, suggests that investors and long-term holders are potentially offloading their XRP holdings. According to Binance’s exchange reserve metric, the reserve has increased from 2.6072 billion tokens to 2.6096 billion tokens over the past week, which is equivalent to an increase of 2.4 million XRP.
In crypto, rising exchange reserves typically suggest that investors are dumping their holdings, and it’s a bearish signal that has the potential to reinforce selling pressure.
Meanwhile, the U.S. spot XRP Exchange-Traded Funds (ETFs) continue to record no flows, with no inflows or outflows recorded on August 7 and 10, 2026, according to SoSoValue. This suggests fading institutional and Wall Street interest in the asset.
Not only are investors, institutions, and long-term holders adding to selling pressure, but intraday traders are also following the same trend. The derivatives tool CoinGlass shows that XRP’s long/short ratio has fallen to 0.8815, below the key threshold of 1, indicating strong bearish sentiment among traders.
At press time, $1.001 on the lower side (Support) and $1.033 on the upper side (Resistance) are the two key levels where traders are over-leveraged.
Over the past 24 hours, these market participants have built $9.72 million worth of long-leveraged positions and $66.52 million worth of short-leveraged positions. These bets now suggest that sellers are the ones dominating the asset and eyeing a potential move to the downside.
These positions could be liquidated if the price moves in either side. As per the data, if the broader market remains unchanged and the XRP price continues its bearish move and falls below the $1.001 level, then $9.72 million worth of long-leveraged positions could be liquidated.
On the other hand, if sentiment shifts and price recovers and crosses the $1.033 level, then a massive $66.52 million worth of short-leveraged positions could be liquidated.
According to the TradingView daily chart, XRP appears bearish and is poised to continue its bearish move for the coming days. The factor supporting this negative outlook is the breakdown of the key support level at $1.024, which had held since June 2026.
Earlier, on multiple occasions, the XRP price came to this level and experienced a price reversal. However, this breakdown and daily candle closing below the key level opens the door for more pain.
Based on the current price action, if the XRP price remains below the key level, it could potentially decline another 9.05% to the next support level at $0.9181. However, this bearish outlook could be invalidated if the asset reclaims the $1.024 level.
At press time, the 200-day Exponential Moving Average (EMA), a key technical indicator, suggests that XRP's broader market structure remains bearish, as the price continues to trade below it.
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