From Coinpedia · By Sohrab Khawas
XRP price fell nearly 10% in 24 hours to around $1.18, hitting an 11-week low as a sharp sell-off in global markets dragged cryptocurrencies lower. Market researcher Edu warned that XRP could fall toward $0.80 if the S&P 500 breaks below its key support level of 7,267.
Advertisement The broader market downturn also pushed Bitcoin down 6% to around $75,000. Meanwhile, the Nasdaq dropped 5.5%, entering correction territory, while the S&P 500 lost more than 4%.
Why Is XRP Price Falling?
According to Edu, XRP’s decline is linked to broader market weakness rather than negative developments involving Ripple.
Investors are reducing exposure to risky assets as market uncertainty increases. The CBOE Volatility Index (VIX), which measures expected stock market volatility, jumped from 16 to 28 in a single session.
XRP remains closely correlated with Bitcoin and broader financial markets. As selling pressure spreads across stocks and cryptocurrencies, XRP could face further losses.
He also compared the current market conditions with 2007, when the S&P 500 reached a record high before the 2008 financial crisis. However, he clarified that this comparison does not necessarily indicate another financial crisis.
Key XRP Price Levels to Watch
Edu identified $1.19 – $1.20 as an important support zone for XRP. The token has tested this range several times, raising concerns that buyers may struggle to defend it.
The analyst highlighted the following levels:
XRP price levelSignificance
1.19–1.20Immediate support
$1.27200-day moving average
$1.35Resistance level
$1.10Next downside support
$1.00Critical psychological support
0.77–0.80Potential downside target
$1.60Level needed for a bullish outlook
If XRP loses the 1.19–1.20 support zone, it could decline toward $1.10. A further breakdown below $1 could expose the token to $0.80 or even $0.77.
On the upside, a recovery above $1.27 and $1.35 could signal improving buying interest. However, Edu said he would only turn bullish on XRP again if its price reaches $1.60.
S&P 500 Support Could Determine XRP’s Next Move
Edu also pointed to 7,267 on the S&P 500 as a critical level. This marks the index’s June low, and the index was trading less than 100 points above it when the analyst shared his assessment.
He warned that a break below 7,267 could increase selling pressure across financial markets, putting XRP’s $1.10 and $1 support levels at risk. If the S&P 500 holds this level and market sentiment improves, XRP could find support around $1.20 and attempt a recovery toward $1.27.