XRP has fallen 20 percent over the past month, raising the likelihood that the $1 support level could break.

U.Today, a blockchain outlet, reported on Nov. 9 that XRP is trading around $1.12. It is down 11 percent on the week and is showing one of its weakest trends this year.

The market focus is less on the size of the drop than on where support sits. XRP previously tried a brief rebound up to the $1.30 to $1.34 range but failed to sustain the rise. It later slid to around $1.24, opening room for further declines. Since Nov. 5, it has lost about 14 percent in value, effectively giving back almost all of its weekly rebound.

In the near term, $1 has emerged as a key turning point. U.Today pointed to $1 as the nearest "fair" support zone for XRP. The level is cited as both a psychological and a technical support. Even if XRP reaches $1, the prospect that buying will immediately flow in is not guaranteed, which is a burden.

Broader market sentiment is also not favorable to XRP. The outlet said investor sentiment has weakened since the Binance hack, and bitcoin and ether have also plunged. Bitcoin faces the risk of falling below $70,000, while ether is continuing a struggling trend around $2,200. It also cited weakening risk-asset appetite as security issues spread across the industry as a factor behind XRP's weakness.

Another issue is that XRP itself lacks a clear catalyst for a rebound. U.Today assessed that, for now, there are few fundamental factors that could help XRP regain key price levels. With the overall market also not favorable to bulls, it mentioned that "it may be wise to prepare for a prolonged correction."

Even so, a short-term rebound scenario has a relatively clear reference point. If buying revives, the first level to watch is $1.20. Many investors bought XRP there in the past, giving it the character of a breakeven line. Such levels can typically act as both support and resistance, as sell orders aimed at avoiding losses may concentrate there.

The key test the market is watching now is whether the $1 level holds. U.Today said, "Selling is accelerating and trading volume is surging," and judged that even if a temporary price rebound occurs in this zone, it would be difficult to change the overall trend. It said XRP ultimately needs to stop making lower lows and produce improvement signals that can support the price.

In this trend, the near-term focus for XRP narrows to two points. One is whether $1 actually functions as support, and the other is whether, even if a rebound occurs, it can regain $1.20 and reduce selling pressure. For now, the market is interpreted as being at a stage where the return of buying matters more than the price itself.