XRP Slips Below Key Support as Selling Pressure Mounts

XRP took a hit on July 28, falling by 5% to trade near $1.05. The drop follows a broader market downturn that encouraged traders to move away from riskier assets. This move sent the price below a critical technical floor that many analysts had been watching closely.

The decline intensified as forced liquidations hit traders who were holding long positions. When these positions were closed automatically by exchanges, it added extra downward pressure on the token. The current price action indicates a double top pattern on the charts, which often signals that more sellers are entering the market.

Traders are now watching to see if the price can reclaim the $1.05 level or if it will slide toward the next support zone. If the selling does not slow down, the asset may struggle to find stable footing in the short term. Keep an eye on market volume to see if buyers decide to step in at these lower prices.