XRP Price Faces Critical Test as $0.91 Emerges as Key Support Level

XRP continues to struggle as the broader cryptocurrency market experiences heavy selling pressure, with investors closely watching the token's ability to remain above the psychological $1.00 mark. At the time of writing, XRP is trading near $1.03 after declining roughly 4% over the past 24 hours. The ongoing market downturn has pushed the total cryptocurrency market capitalization below $2 trillion, increasing concerns about further downside.

Despite the attention surrounding the $1 price level, technical indicators suggest that XRP's true support zone may be significantly lower. According to the monthly Bollinger Bands on TradingView, the next major support sits around $0.91. This indicates that the widely followed $1 threshold may not provide the strong defense many traders expect if selling pressure continues.

Recent liquidation data reinforces this bearish outlook. CoinGlass reported approximately $1.48 billion in crypto liquidations within a single day, impacting more than 217,000 traders. Long positions accounted for nearly $1.21 billion of those losses, highlighting the aggressive selloff across the market.

One of the most notable events involved a whale using the "0xf79C" wallet on Hyperliquid. The trader reportedly lost around $8.42 million after leveraged Bitcoin positions worth $47.7 million and XRP positions valued at $28.5 million were forcibly liquidated during the market decline.

XRP itself experienced nearly $39 million in liquidations, with bullish traders absorbing almost the entire loss. CoinGlass data shows that approximately $38.8 million of the liquidated positions came from long traders, signaling that buyers have faced overwhelming pressure.

From a technical perspective, XRP has already fallen below the midpoint of its previous trading range near $2.05. As a result, analysts believe the asset could continue moving toward the lower Bollinger Band around $0.91. If XRP breaks below $1.00, it would not necessarily represent panic selling but rather the completion of a technically expected move. Many market participants believe the $0.91 region could become a significant accumulation zone where institutional investors and large holders may begin rebuilding positions if market conditions stabilize.