[DigitalToday reporter Yoonseo Lee (이윤서)] XRP fell to the $1.10 area, bringing its short-term downside risk into focus.

On Nov. 9 (local time), blockchain outlet The Crypto Basic reported that XRP slid to the $1.09 to $1.10 range, where Fibonacci retracement levels overlap, after it recently lost support at $1.26.

On Coinbase's four-hour chart, XRP fell to $1.1000 on Nov. 8 and later traded around $1.12 at one point. CoinMarketCap data for Nov. 9 also showed it hovering near $1.10. That suggests the $1.10 support zone is under strong pressure.

That zone is in focus because it is not simply a psychological price level. The $1.10 area overlaps a local 0.854 retracement at $1.0999 and a larger 0.786 retracement at $1.0912.

The decline began when XRP failed to hold the $1.50 to $1.60 range, which had been a rebound zone in September. Highs then kept falling. Once support at $1.2658 broke, selling pressure quickly extended to $1.1477. But there was no meaningful recovery even in that range. The latest drop has pushed XRP into $1.09 to $1.10.

Still, it is difficult to confirm a bottom based only on technical oversold signals. On a four-hour basis, the relative strength index stood at 24.20, below the typical oversold threshold of 30. Another momentum indicator was near 30.62. Oversold readings do not in themselves mean a bottom is forming.

The confirmation level needed for a rebound is $1.1477, and the next key price level is seen at $1.2658. The market viewed it as difficult for XRP to find stability until it regains those levels.

On the downside, whether XRP breaks below $1.0912 is important. If buying fails to hold that level, the next major level shifts to the psychological support at $1. A technical reference point near $0.9871 on the chart also aligns with the $1 area. If XRP slips from $1.10 to $1, the additional decline would be about 9.1 percent.

$1 also has significance in past trading history. XRP previously rebounded to $1.70 after trading around $1 during its August low. That is why the market is watching whether the $1 level will be defended again.

If the $1 level also breaks, a deeper decline could open up. On a Fibonacci basis, $0.8688 was presented as the next technical reference point. As a result, the $0.87 to $0.90 range is being cited as the next major downside support zone.

Ultimately, the key issue is not the move to $1.10 itself, but whether that support level actually holds. For the short-term structure to improve, XRP needs to prevent a move that keeps it below $1.09 to $1.10 and regain $1.1477. For a stronger reversal, it would need to break back above $1.2658, which was a key support level before the recent breakdown. Until then, the market is likely to remain focused on a retest of $1.10 and whether the $1 level can be defended.