XRP Teeters on Edge: Last Support Line in Jeopardy as Price Drops 11%

XRP's price hit a snag, dropping to $1.04 after losing 11% over the past week. This slide has traders on edge as XRP approaches its last significant support level at $1.17. The coin's Relative Strength Index (RSI) is dipping into oversold territory, a level not seen since 2022, signaling the pressure is mounting.

The on-chain data paints a bleak picture. Whale transactions over $100,000 are dwindling, with numbers dropping from early-February highs of 898 to just about 90. This signals a lack of confidence among major holders. Large whales appear to be offloading rather than buying the dip. Social media chatter has also plummeted. Once a sign of solid interest, it's now struggling to make waves, remaining far below its peaks from earlier in the year.

Technically, XRP continues its downward march, a trend that's been in place since its 2025 peak at $3.66. The price has broken down from a symmetrical triangle and now stares down the barrel at a potential target of $0.73. With weekly volume declining, buyers seem hesitant to step in. The RSI's slip below the 30-mark reinforces the bearish outlook, as momentum appears firmly in sellers' hands.

Here's the thing. Unless we see a miraculous rally above $1.17, XRP's path seems grim. It's sitting on shaky ground, and the next weekly close could be the turning point moment that determines whether it plummets further or claws back some gains.