XRP: Daily Read | 2026-11-06

XRP is testing whether a familiar floor can absorb another wave of pressure, with the last price at $1.20 after the last session finished 3.0 percent lower. The immediate view is cautious because price is down near the floor of its one-month range while the broader structure still points lower. This matters now because stabilization at the floor could produce a meaningful reset, but failure would confirm that weakness is expanding rather than merely pausing.

The pressure is specific to an asset already lagging its own recent history: the one month average is $1.30, price is below it, and the structure reads as a downtrend, price under both its one-month and longer averages. The decline is roughly 8.7 percent down over the last two weeks, which means the burden remains on XRP to prove that demand can persist beyond a brief rebound. The wider crypto backdrop can amplify moves when risk appetite shifts, but XRP’s immediate problem is internal because repeated weakness has left overhead supply between the current area and the month swing high.

That month swing high is $1.43, about 19.4 percent above the current price, and it matters because clearing it would overturn the sequence of lower trading levels and show that trapped supply has been absorbed. Below, a shelf of support at $1.20, about 0.01 percent below, is the immediate defense because it marks the point where current price and established demand converge. The nearer round number handles at $1.20 and $1.18 add psychological importance, which means sustained trade beneath both would weaken the case that the floor is holding. The three month range $0.99 to $1.65 defines the larger map because those extremes show how much space can open once the present balance breaks.

The bull path is straightforward: if XRP defends $1.20, reclaims $1.30, and begins holding above that average, then pressure can ease and the market can work back toward $1.43 because confidence would improve as each overhead layer is recovered. A decisive move above $1.43 opens the path toward $1.65, which means the upper boundary of the three-month range becomes relevant only after resistance has been convincingly removed. The bear path is equally clear: if attempts to recover $1.20 fail and $1.18 cannot stabilize trade, then downside pressure should broaden because losing $1.20 exposes $0.99.

The main risk to the cautious view is a fast reclaim of $1.30 followed by sustained strength through $1.43, because that would invalidate the downtrend reading and signal that the recent decline was exhaustion rather than continuation. Conversely, repeated closes beneath $1.20 would invalidate the stabilization case, which means attention should shift toward whether demand emerges before $0.99. Net, XRP remains vulnerable while below $1.30, but the reaction around $1.20 is decisive: defense keeps a recovery path alive, while failure leaves the lower end of the three-month range as the market’s next serious test.

Key levels: support $1.20 (0.01% below), resistance $1.43 (19.4% above), one-month average $1.30, three-month range $0.99 to $1.65.