XRP: Daily Read | 2026-11-08

XRP is under clear pressure at $1.17 after finishing the last session 4.9 percent lower, and the immediate read remains bearish because price is down near the floor of its one-month range rather than stabilising in the middle of it. That matters because weakness at the bottom of a recent range often reflects urgency among holders, not routine two-way trade. The market must show that this pressure has been absorbed before the tone can improve.

The broader crypto backdrop matters only insofar as reduced risk appetite can amplify moves in liquid tokens, which means XRP’s own structure should remain the primary guide. Its one month average is $1.30, and price is below it, while the structure reads as a downtrend with price under both its one-month and longer averages. The decline is also persistent rather than confined to one difficult session because XRP is roughly 10.4 percent down over the last two weeks. The month swing high at $1.43 sits about 21.8 percent above the current price, showing how much ground must be recovered before the market can credibly claim that control has shifted back toward demand.

The immediate shelf of support is at $1.17, about 0.01 percent below, and it matters because this is where the current decline is testing whether resting demand can defend the range floor. The nearby round number handles at $1.18 and $1.16 create a tight decision zone: holding around them would suggest that the latest liquidation impulse is losing force, while sustained trade beneath them would show that support is no longer containing pressure. The wider three month range of $0.99 to $1.65 defines the larger map, which means the present price is much closer to the lower boundary than the upper boundary. That asymmetry makes defence of $1.17 especially important because failure there would leave limited nearby structure before the range low comes into focus.

The bull path is straightforward: if XRP holds $1.17, reclaims $1.18, and begins sustaining trade above the one month average at $1.30, then the downtrend would start to weaken because the market would be rebuilding acceptance above recently lost ground. A decisive move above $1.43 opens the path toward $1.65, which means the month swing high is the true confirmation point rather than merely another rebound level. The bear path is equally clear: if $1.17 fails and $1.16 cannot be recovered promptly, then losing $1.17 exposes $0.99 because the market would have broken the shelf protecting the lower end of the broader range.

The main risk to the bearish read is a sharp recovery that holds above $1.30 and then clears $1.43, because that sequence would invalidate the pattern of lower acceptance and force attention toward $1.65. Conversely, repeated failure around $1.18 followed by acceptance beneath $1.17 would reinforce downside control and make $0.99 the relevant reference. Net, XRP remains vulnerable at $1.17 because support is being tested from a position of established weakness, and the read improves only when lost levels are reclaimed and held.

Key levels: support $1.17 (0.01% below), resistance $1.43 (21.8% above), one-month average $1.30, three-month range $0.99 to $1.65.