The post XRP’s Catastrophic Reversal Sends Price to $1 appeared on BitcoinEthereumNews.com.

A dramatic and devastating reversal that ended XRP’s recent rally attempt may define the asset’s next significant leg, and not in a positive way. Following a brief recovery from a market-wide crash, XRP encountered a devastating rejection at the 200-day EMA, which has traditionally served as the boundary between a long-term decline and a bullish recovery. The dismissal was harsh and quick. XRP rebounds Price action in the $2.80-$2.90 range set off what can only be called a death order, a huge sell volume wave that quickly erased much of XRP’s rebound momentum and sent it plummeting back toward $2.40, where more downside pressure was rapidly building. Large holders most likely left at that time, seeing the 200 EMA as a last chance to unload before a subsequent leg lower, as confirmed by the volume spike that accompanied this rejection. XRP/USDT Chart by TradingView XRP’s technical environment now appears bleak. Indicating a clear bearish turn in momentum, the asset has fallen below the 50-day and 100-day moving averages. The selling volume is still very high, and the RSI, which is currently below 40, also shows increasing weakness. This combination is risky for any short-term bullish expectations. Retesting $1 The most likely outcome of this breakdown is a retest of the $1.8-$2.0 support zone in the upcoming sessions, possibly followed by a prolonged decline toward $1.00, which corresponds to the lower boundary of the long-term channel that is visible on the chart. This sector serves as XRP’s last line of structural protection prior to the market going into a phase of capitulation. XRP runs the risk of completely losing investor confidence if it does not quickly rise back above $2.08. The chart’s arrangement suggests fatigue and systemic weakness, even though brief bounces are possible. To put it simply, XRP’s technical rejection…