XRP price slipped below $1 again in the past 24 hours, despite record adoption metrics across the XRP Ledger (XRPL). The altcoin is currently testing a level it defended for years.

The breakdown complicates a thesis built almost entirely on institutional demand and network growth.

What the Price Action Actually Shows

A psychological support level is a round number that traders defend collectively, often regardless of underlying fundamentals. XRP has held above $1 for 635 consecutive days.

The streak ended on August 11. The token printed $0.9915, its first move below the level since November 2024. Each return to that zone carries weight. Repeated tests suggest sellers keep probing for weakness beneath a floor that once looked solid.

The symbolism cut deeper than the arithmetic. At the recent low, XRP briefly traded below RLUSD, Ripple’s own dollar stablecoin. Technical levels now define the range.

Analysts identify $0.70 to $0.90 as the next support, with a broader zone extending toward $0.86 if selling accelerates.

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Reclaiming ground requires specific progress. Buyers would need to push above $1.03 to meaningfully improve the short-term structure.

Fund flows offer little encouragement. Spot product net inflows totaled $3.27 million so far in August, down roughly 88% from the $27.29 million recorded in July, according to SoSoValue data.

The Case Analysts Keep Defending

Some analysts point elsewhere entirely. The monthly relative strength index reached its most extreme reading in twelve years, deeper than the pandemic crash or the 2018 bear market.

Institutional adoption anchors their case. Aviva Investors, which manages $351 billion, launched a tokenized fund on the XRP Ledger with approval from the Central Bank of Ireland.

Ecosystem metrics reinforce that argument. Real-World Assets value on the XRPL sits near $4.06 billion, after adding roughly $2.5 billion over six months.

“…The bears say the ledger can succeed without the token capturing value. The bulls say the settlement layer of the bridge currency function create structural demand that grows with adoption. Both arguments have merit. The honest answer is that the token network relationship is genuinely unresolved and at historic RSI lows with institutional adoption accelerating the riskreward for being wrong on the bearish side is significant…,” Lark Davis said.

On-chain data shows accumulation, too. Santiment recorded 32 new wallets holding at least 1 million XRP over three months, though single entities can control multiple addresses.

One structural detail complicates the thesis considerably. Ripple’s ten major institutional deals during 2026 all settled in RLUSD rather than XRP. That fact anchors the bearish case. The XRPL can grow commercially while the token captures little of that activity, since institutions need infrastructure rather than the asset.

Analyst targets diverge accordingly. Standard Chartered maintains $2.80 while analyst Ali Martinez flags downside risk toward $0.62. History provides an uncomfortable reference.

XRP lost 95%of its value in the two years following its 2018 peak, and it currently trades roughly 72.5% below its July 2025 record, according to BeInCrypto data.

The disconnect defines everything now. Adoption data shows where infrastructure gets built, not whether holders eventually see that value reflected in price.

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Source: BeInCrypto