Ripple (XRP) is once again testing its direction around the $1 mark, a key support level. Market analysts project that if the price fails to hold this level, the correction could extend down to the next support zone of $0.80.

Cryptocurrency media outlet Cryptopotato recently analyzed that XRP has shown a pattern of testing the support level around $1 three times over the past two weeks. However, it assessed that selling pressure currently dominates in the short term, as buying volume has failed to trigger a significant rebound after each support test.

The outlet analyzed that if downward pressure continues into this week, it would be difficult to rule out the possibility of the $1 support level breaking. In such a scenario, the existing support zone could flip into a resistance level, with the next major support expected around $0.80.

On the other hand, if the $1 level is defended stably, concerns over a short-term steep decline could be partially alleviated. However, some analysts noted that confirming a trend reversal would require an accompanying increase in trading volume and a recovery in buying momentum.

According to CoinMarketCap, XRP was trading at $1.04 as of 7:20 p.m. on the 30th, down 1.05% from the previous day.

[This article was written with the assistance of AI. This article is not intended to encourage investment, and any losses resulting from cryptocurrency investments are the sole responsibility of the investor.]