XRP has slipped below the key $1.35 support level, and technical analysts now see a likely slide to $1.20 before any sustained recovery. The move comes as broader crypto markets face renewed selling pressure, but some traders are already eyeing a longer-term bounce.
Break below $1.35
The breach of $1.35 was swift. Over the past 24 hours, XRP dropped through that floor without much resistance. Chart watchers say the next meaningful support sits around $1.20. If that level fails to hold, the asset could test even lower zones — but for now, $1.20 is the target.
The breakdown follows weeks of consolidation near $1.40. Volume picked up as the price fell, suggesting sellers were in control. Still, the move isn't shocking to those who track technical patterns. A drop to $1.20 would represent about an 11% decline from current levels.
Institutional accumulation expected
After the drop, some analysts see a 65% probability of XRP surging toward $2.00 or higher by September 2026. That bullish scenario rests on one key factor: institutional buying. The idea is that large investors will step in once the price hits $1.20, accumulating positions ahead of a long-term rally.
Institutional accumulation has been a recurring theme in XRP's market cycles. The current setup — a sharp dip followed by gradual absorption — mirrors past patterns. But the timeline is unusually long: the forecast calls for a move past $2.00 in roughly 18 months. That's far from a quick trade.
Timeline to $2.00
The projected rally isn't immediate. If XRP does bottom at $1.20, it could take months of sideways action before momentum builds. The $2.00 target by September 2026 implies an upside of about 67% from the predicted low. That kind of move would require sustained buying pressure and a favorable macro environment.
Some traders are already marking their calendars. The next big test will be whether $1.20 holds as support. If it does, the accumulation phase could begin quietly. If it doesn't, the entire thesis unravels.
For now, the market waits. XRP's next moves will tell whether the dip buyers actually show up — or whether the breakdown deepens.
