Key Takeaways
- XRP registered a weekly close of $1.029, marking its weakest finish in approximately two years
- The digital asset has declined around 44% year-to-date and hovers near $1.03
- Trader Bird identifies a potential W-pattern double-bottom formation at the $1 support level
- Market analyst ChartNerd forecasts a decline to $0.7 before meaningful recovery begins
- Large holders accumulated 380 million XRP tokens within a seven-day period amid ongoing volatility
XRP has marked its weakest weekly closure in approximately two years, settling at $1.029 as last week came to an end. The cryptocurrency is presently changing hands around $1.03, reflecting a decline of roughly 0.5% over the last 24 hours and 3.43% across the previous week.
Since the beginning of the year, XRP has dropped approximately 44%, retreating to a price region that has traditionally served as robust support.
Market observer Ash Crypto was among the earliest to highlight this development, emphasizing that this weekly closing represented XRP’s most vulnerable position in nearly 24 months.
Market participant That Martini Guy offered his perspective on X, noting that XRP “just closed its lowest week in nearly 2 years at $1.029,” characterizing it as “a serious breakdown.” He emphasized that the crucial question now centers on whether this represents “the start of a deeper reset, or the kind of capitulation that eventually creates the next opportunity.” He added that he is “watching this one closely.”
$XRP just closed its lowest week in nearly 2 years at $1.029.
That’s a serious breakdown.
The bigger question now isn’t what happened on the way down.
It’s whether this is the start of a deeper reset, or the kind of capitulation that eventually creates the next opportunity.ā¦ pic.twitter.com/sulwt0Ac2e
ā That Martini Guy āæ (@MartiniGuyYT) August 10, 2026
Will XRP Form a Double Bottom or Plunge to $0.70?
XRP technical analyst and developer Bird suggests the cryptocurrency is positioned precisely on a critical support zone at $1. He has mapped out two potential scenarios moving forward.
The first scenario involves XRP maintaining the $1 threshold, establishing a double-bottom structure, and finishing a W-pattern reversal that could drive prices upward.
The alternative scenario sees XRP temporarily breaking below $1 to capture liquidity before recovering above this level and initiating a more robust rally. Bird observed that either trajectory could eventually result in appreciation.
Market analyst ChartNerd maintains a more conservative outlook. He anticipates XRP will descend to $0.70 before any substantial recovery materializes, and projects the token will continue trending downward through late 2026.
Technical Buy Signal and Large Holder Accumulation
Market analyst Ali Martinez highlighted that the TD Sequential indicator has triggered a buy signal on XRP’s monthly timeframe. Historical signals of this nature preceded rallies of 1,074% in 2020 and 973% in 2022.
$XRP READY FOR A BULL RALLY
1/5 š§µš
ā Ali Charts (@alicharts) August 9, 2026
Martinez further noted that XRP needs to surpass $1.06 initially, a resistance threshold where approximately 3 billion XRP changed hands. A monthly closure above this mark could establish a pathway toward $1.35 and subsequently $1.64.
The daily Relative Strength Index currently registers at 39, remaining within bearish range. A move above the 50 mark on the RSI could facilitate XRP’s breakthrough of the $1.06 resistance and enable targeting of the 50-day exponential moving average at $1.10.
Technical analyst Ali Charts observed that major XRP holders acquired 380 million tokens within a single week, indicating substantial players maintain conviction despite questions surrounding the CLARITY Act’s potential passage in 2026. Securing closes above the 50-day exponential moving average at $1.10 for three consecutive days could subsequently propel XRP toward the 200-day exponential moving average at $1.18.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
