An analysis said XRP is facing further downside pressure despite a short-term rebound. A report cited by The Crypto Basic said the Elliott Wave-based correction may not be over and XRP could test lower prices before a meaningful recovery. XRP traded at $1.13, down about 1 percent in 24 hours, and has fallen 17 percent over the past month and 37.67 percent year-to-date. Key Fibonacci support levels were cited down to $0.4865 in a worst-case scenario.

XRP could slip back below $1, and the $0.90 range may be a meaningful long-term buying zone, an analysis said. Analyst Ali Martinez said he is closely watching $0.90 and sees it as an attractive entry level for long-term holders if price falls that far. Another analyst, RWA_Investor, projected a possible rise toward $2 and then $2.70 to $3.10, warning a failure to reclaim key levels could lead to a retest of $0.75 to $1.00.