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Is XRP About to Hit a Level Last Seen in November 2024?

By Sam Daodu Published Aug 13, 11:30AM EDT

Quick Read

XRP's 635-day streak above $1 nearly broke on August 11 when it dipped to $0.99 intraday.
Whales bought 380 million XRP near $1 in one week, but $1.5 billion in leveraged longs could force cascading liquidations if the level breaks.
XRP dropped 3.9% last week while Bitcoin and Ethereum gained, and the CLARITY Act delay until September 15 leaves no short-term price catalyst.
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Is XRP About to Hit a Level Last Seen in November 2024? — © Who is Danny / Shutterstock.com

XRP (CRYPTO:XRP) has closed above $1 every single day since November 16, 2024, which is 635 days running. The XRP price has fallen all year without ever losing that line, and buyers have stepped in every time it got close.

However, that line nearly broke this week. XRP dipped to $0.99 during trading on August 11 before recovering to close the day above a dollar, and it trades at $1.01 today after the lowest close of the entire streak. Will XRP finally drop below $1?

The 635-Day Record XRP Is Defending

A close-up shot of a golden XRP cryptocurrency coin with the Ripple logo and 'XRP' text. It stands on a reflective dark surface. In the blurred background, a digital stock chart displays red and green candlesticks and purple line graphs, indicating market fluctuations.

The XRP price last closed below a dollar on November 15, 2024, finishing at $0.89. It closed at $1.12 the next day and has not closed below $1 ever since. Round numbers like this one become psychological levels because enough buyers park orders there, which is why every dip toward $1 has been absorbed so far.

However, XRP has spent most of its 635-day streak nowhere near trouble. It ran past $2 by December 2024, peaked at $3.65 in July 2025, and more than half of its 635 closes were above $2. So the $1 line was never in question since XRP last closed below it, and buyers have only just begun to defend it this year.

XRP last closed above $2 on January 17 this year at $2.06. It closed January at $1.66 and June at $1.04, so it lost roughly half its value in five months and has been sliding toward the $1 line ever since.

Moreover, XRP posted the lowest close of the whole run this week, at almost exactly a dollar, so the pressure is building. The five closest calls to $1 across all 635 days have all happened in the past two weeks.

What’s Pushing XRP Toward $1

Ripple XRP cryptocurreny coin in front of colorful abstract background with candlestick chart diagram

The XRP price trades below every moving average traders watch, with the 20-day at $1.06 and the 50-day at $1.08. Those averages are the lines traders use to judge whether a trend is up or down, and both are sloping downward, so anyone using them is reading XRP as falling rather than resting.

However, the bigger problem is that daily trading volume has dropped from $1.27 billion to around $847 million in 24 hours. Thinner volume means fewer orders on the book, so it takes a smaller sale to push the price down, and a level defended by buyers gets easier to break.

Moreover, XRP dropped 3.9% last week while Bitcoin gained 1% and Ethereum 0.5%, making it the weakest of the large cryptocurrencies. So the selling is specific to XRP rather than the whole market pulling back.

The one catalyst XRP is waiting on is also still stuck. The CLARITY Act, which would classify XRP as a commodity under federal law, missed its Senate window before the August recess and now faces a procedural vote on September 15, so there is nothing to lift the price for another month.

Why Whales Are Buying

Ripple and cryptocurrency investing concept - Businessman using mobile phone application to trade Ripple XRP with another trader in modern graphic interface. Blockchain and financial technology.

Large holders added more than 380 million XRP in a single week, worth roughly $380 million, with the buying concentrated around the dollar mark, according to Santiment. Against a $63 billion market value, that is enough to slow the XRP price falling without stopping it.

Moreover, 81% of the XRP withdrawn from Binance on August 3 went to large holder wallets, against 72% across all centralised exchanges, according to CryptoQuant. The network has also been getting busier, with active addresses averaging about 35,700 a day in August against 26,400 in July, though new addresses stayed flat near 2,260, so existing users are doing more while few new ones arrive.

However, traders have stacked leverage on top of all that. More than $1.5 billion in long positions have been added since the start of August, and open interest on Binance reached 435.1 million XRP, worth around $440 million and well above its 30-day average.

Borrowed positions get closed automatically when the price falls far enough, and those forced sales push the price down further, which closes more positions. So if XRP slips under $1, the drop would come much faster than the slow grind whales have been holding up all year.

Will XRP Drop Below $1?

The XRP price looks likely to break below $1 as market sentiment remains weak. Whale buying can slow a decline for a while, but it cannot replace a reason to buy, and XRP has none until the CLARITY Act vote in September.

XRP also stayed under a dollar for 1,139 days after the February 2018 break and 1,085 days after the November 2021 one, so close to three years each time. Both of those breaks started with a close in the nineties, around $0.90 to $0.99, which is only a couple of cents below where XRP trades today.

However, the leverage built up since August could make this break faster than either of those. Forced selling from those long positions would push XRP well below a dollar before buyers get a chance to defend the level again.

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About the Author Sam Daodu →

Sam Daodu is a crypto analyst who's spent nearly a decade making blockchain understandable—no easy task when most whitepapers read like fever dreams. He writes for 24/7 Wall St., covering Bitcoin, altcoins, and crypto market analysis for investors. Before crypto, he was a tech writer (back when explaining "the cloud" was peak innovation). Since 2018, he's written for CoinTelegraph, Yahoo Finance, The Block, Cryptonews, Zypto, Rain, and more—basically anywhere people want crypto news without the headache. Sam runs MacLabs Marketing, a content agency for crypto brands tired of sounding like AI wrote their website. He also publishes free crypto education on his site for Web3 enthusiasts who think "gas fees" is a typo. When he's not writing or staring at charts, Sam's either: - Watching anime (currently convinced One Piece has better tokenomics than most altcoins) - At the gym sculpting himself into a Greek god - Listening to the music your mum warned you only bad boys listen to Connect: LinkedIn | Email | MacLabs Marketing