XRP Retraces 72% of Its Rally. Is $1.17 the Next Target?

XRP Plunges 72% from All-Time High, Could $1.17 be the Next Target?

Market Analysis

XRP has surrendered most of its historic rally and traders are locking in on a single price level that could determine whether the selloff deepens or finally finds its floor. The coin has collapsed 72% from its $3.65 all-time high to $1.39, erasing most of its post-election rally from $0.50. Traders now target $1.17 as the next key Fibonacci support level, roughly 16% below XRP's current price.

XRP's Retracement

XRP has given back approximately 72% of its impressive rally from $0.50 in November 2024 to an all-time high of $3.65 in July 2025. As of October 9, 2026, XRP is around $1.39, about 62% below its peak, after a nearly 9% drop over the last week. Traders are now closely monitoring the $1.17 level on XRP’s chart, a key retracement point about 16% below its October 9 price.

Fibonacci Levels

To assess this retracement, traders use a retracement chart. They draw a line from the rally’s low to its high and mark key levels based on the Fibonacci sequence—a concept from Italian mathematician Fibonacci. For XRP, these levels are marked as follows. XRP has already dipped below the $1.70 mark, the 61.8% retracement level traders watch closely. This leaves $1.17 as the next crucial point, representing the 78.6% level, just before the rally’s original starting point.

Market Dynamics

Fibonacci levels may not predict future prices on their own, but many traders watch them. This collective behavior often leads the price to bounce off these levels or stall due to clustered buy and sell orders. However, if buy orders accumulate near $1.17, they could slow the price decline. On the flip side, if those buy orders are exhausted, sellers below that level may accelerate the drop. A retracement level also reflects price dynamics rather than value. XRP’s current market value, approximately $88 billion, reflects the larger number of coins in circulation than in 2024, as Ripple releases XRP from its escrow reserves on a scheduled basis.

Historical Context

The $1.17 level isn’t brand new territory for XRP. Earlier this summer, the coin traded near $1.05 in late June 2026 before bouncing back with a strong 46% rise to reach $1.53 by late September. This earlier price action around the $1 mark suggests traders will likely monitor this area closely as a potential support level. Despite this, the recent drop has been swift: while XRP is down about 3% over the past month, it has fallen almost 9% in just a week. Additionally, the coin remains roughly 50% lower than it was a year ago, indicating that the summer rebound hasn’t fully reversed its longer-term downward trend.

Conclusion

If selling pressure persists, XRP is likely to test $1.17 next, especially after losing the $1.70 mark and falling nearly 9% this past week. However, since XRP traded below $1.17 earlier this summer and rebounded, buyers could step in again at this critical level. For current holders, this means a further decline of about 16% from the October 9 price before it reached that level. On the other hand, XRP could sidestep this test entirely if it holds around $1.39 and climbs back above $1.70, about a 22% increase. This would effectively conclude the retracement discussion. But if XRP closes below $1.17, the next key level to watch will be the $1 mark, about 28% lower than the price on October 9, where buyers previously demonstrated interest this summer.