XRP slid 4.5% in Thursday trading, slicing through the $1.13 support level that had held for weeks. The selloff came on elevated volume, leaving traders to guess whether this is a final washout before a rebound or the start of a steeper slide toward $1.00.
Support breach triggers selloff
The $1.13 mark had been a key floor since early February. Breaking it on heavy trading suggested more than routine profit-taking. Data from major exchanges showed sell orders outpacing buys by a wide margin during the afternoon session in New York. Some market participants rushed to cut losses, accelerating the move lower.
XRP briefly dipped as low as $1.11 before stabilizing around $1.12. The cryptocurrency has now erased nearly all the gains it made after a positive court ruling last month. That rally had pushed prices above $1.30 before the momentum faded.
Volume spike adds to uncertainty
Thursday's trading volume was roughly double the 30-day average. That kind of spike often signals a turning point, but the direction remains unclear. A washout — a sharp drop that flushes out weak holders — can set the stage for a recovery. But if selling pressure persists, the next stop could be $1.00, a round number that often acts as psychological support.
Traders on social platforms are split. Some argue the elevated volume shows capitulation, a classic bottoming signal. Others point to the lack of any positive catalyst and caution that a break below $1.00 could open the door to further losses. The uncertainty has kept many on the sidelines.
No company or individual has publicly commented on the move. The broader crypto market was mixed, with Bitcoin edging higher while Ethereum slipped slightly.
What happens next
For now, XRP sits just above $1.12. A recovery above $1.13 would put the support test in the rearview mirror. But if the token fails to reclaim that level, the path to $1.00 grows shorter. The next few trading sessions will show whether the selloff was a one-day event or something more sustained.
