The cryptocurrency market has experienced a dramatic downturn in recent weeks, far exceeding expectations from mid-May. Bitcoin (BTC) has fallen below the $60,000 mark for the first time since November 2024, while Ethereum (ETH) has plunged to a 14-month low. XRP has also succumbed to the selling pressure, dropping below critical support levels and reaching a 19-month low of under $1.10 on Friday.
The immediate concern for XRP investors is whether the current support above the crucial psychological threshold of $1.00 will hold, or if the cross-border payment token is destined for a significant decline into the sub-dollar range.
According to a new analysis from a prominent AI solution, the most probable initial bearish target for XRP, should it breach $1.00, is $0.90. This scenario appears increasingly likely given the prevailing market conditions. For context, Bitcoin’s recent dip below $60,000 marked its lowest point since before the U.S. elections in late 2024.
Similarly, XRP has retreated to its lowest levels since that period in November 2024, currently trading below $1.10. Having broken through its last significant support at $1.00, this level is now under intense scrutiny, with a further downward move potentially testing it imminently.
The AI model suggests that a drop to $0.90 would represent an additional 18%-20% decline for XRP and would likely be accompanied by continued weakness across the broader cryptocurrency market.
However, the AI also outlined even more pessimistic scenarios should bullish sentiment completely evaporate. In a more extreme bearish outlook, XRP could fall to the $0.75-$0.80 range.
A full capitulation scenario, while considered a “low-probability outcome,” envisions XRP dropping to $0.60. The AI platform noted that such a drastic decline would likely require a confluence of factors, including macroeconomic instability, a widespread crypto bear market, and the erosion of key positive narratives like ETF optimism and institutional adoption.
Conversely, the AI also presented a more optimistic perspective, suggesting that XRP might be “approaching a point where conditions become favorable for a relief rally.” Drawing on historical data, particularly for previous Junes in U.S. midterm election years, the AI highlighted that “pessimism often preceded major recoveries.”
Based on this, the AI outlined a potential for a swift rebound to $1.25 and even $1.40, contingent on buyers successfully defending the $1.05-$1.10 support region. The coming days, or even hours, will be crucial in determining whether this support holds.
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