The cryptocurrency XRP has plummeted to its lowest price point since November 2024, the month of the last U.S. presidential election, breaking a crucial technical support level and signaling a potential for further decline. The digital asset dropped to $1.44, a level not seen since the immediate post-election period, erasing gains and testing investor confidence.
The technical breakdown is significant, as the $1.44 level previously acted as a robust floor during a steep sell-off in April 2025, attracting substantial buying interest. The failure to hold this established support zone is a bearish signal, indicating that sellers are now in control. Charts now reveal a concerning lack of defined historical support or trading volume between the current price and the psychologically important $1.00 mark, suggesting a potential "air pocket" that could lead to a rapid descent.
Market sentiment appears to be turning increasingly bearish. Data from the leading crypto options exchange Deribit showed demand for bearish put spreads and volatility strangles on XRP in the past 24 hours, indicating traders are preparing for a deeper sell-off or a significant price swing.
The decline occurs within a complex context. While the initial reaction to President Donald Trump's 2024 election win, which was campaigned on pro-crypto policies, was bullish for XRP—pushing it to a peak of $3.65 in July 2025—the asset has been in a persistent downtrend since. This recent crash outpaces the broader market, with XRP down approximately 22% year-to-date, compared to Bitcoin's 8% and Ethereum's 12% declines, suggesting asset-specific headwinds.
Analysts emphasize that the high-volume breach of the $1.44 support transforms that level into a new resistance, capping potential upward moves. Fundamental factors, including the evolving narrative around the legal developments between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), continue to influence institutional sentiment and liquidity, adding to the market's uncertainty.
