XRP Plunges 70% From Peak as Analysts Eye $0.84 Target Amid Market Turmoil

Key Takeaways

• XRP has plunged beneath $1.10, marking its lowest point since 2024 with an 18% weekly decline
• Technical analyst ChartNerdTA projects a potential 23% slide toward $0.84 support level
• David Schwartz, Ripple’s CTO emeritus, revealed an updated XRP Ledger strategy emphasizing real-world asset tokenization
• Technical analysts identify critical support at $0.95 with a cup-and-handle pattern suggesting possible rally to $3.65
• Despite spot XRP ETF approvals in late 2025 offering some market stability, selling pressure persists

XRP has crashed to its weakest levels since 2024, currently fluctuating between $1.05 and $1.09 following a nearly 4% decline over 24 hours and a steep 18% weekly plunge, based on CoinGecko market data.

This sharp downturn positions XRP approximately 70% beneath its record peak of roughly $3.65, achieved in July 2025. The selloff mirrors widespread cryptocurrency market weakness, with Bitcoin simultaneously dropping under $60,000.

Technical analyst ChartNerdTA identified a concerning breakdown on monthly timeframes, where XRP breached its upper regression channel at $1.35. Historical patterns suggest such movements typically trigger tests of the middle regression band, currently positioned near $0.84 — representing an additional 23% downside from present values.

Blockchain analytics reveal a substantial number of holders are currently holding losses, nearing levels observed during previous bear market capitulations. The 4-hour RSI indicator has plummeted to approximately 25, signaling deeply oversold conditions.

New XRPL Development Strategy Unveiled by Schwartz

Amid this price volatility, David Schwartz — Ripple’s CTO emeritus and a founding developer of the XRP Ledger — presented an updated strategic vision through his “XRP in a Minute” educational content.

Schwartz emphasized that corporate entities are currently leveraging the XRPL for asset tokenization, forecasting growth into tokenized equities, stocks, money market instruments, repurchase agreements, and lending products. He positioned the XRPL as a connector between Bitcoin’s native asset framework and a comprehensive ecosystem of issued digital assets.

Spot XRP exchange-traded funds, which received regulatory approval in late 2025, have contributed some foundational market support but have proven insufficient to halt the ongoing liquidation cascade.

Technical Pattern Analysis for Long-Term Outlook

Market analyst Celal Kucuker detected a cup-and-handle formation remaining intact on monthly charts, with crucial support zones spanning $1.10 to $1.20. A breakdown below this range could propel XRP toward testing the 0.236 Fibonacci retracement level at $0.95.

CryptoPatel observed that the $0.40–$0.95 range served as XRP’s consolidation base prior to its explosive 800% rally in late 2024. This territory is now considered a possible accumulation zone by market participants. Should support levels maintain, long-term recovery objectives are positioned at $3.65, $5, and $10.

XRP was last exchanging hands around $1.07 as of June 7, 2026.

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