Ripple [XRP] has extended its weekly losses to about 7%, taking the yearly drawdown to 69.4%. Hence, XRP recorded its lowest price level since breaking above $1 in the last quarter of 2024. Moreover, XRP’s weakening price action is setting the stage for a possible drop below $1. XRP price loses KEY support levelThe technical outlook of the altcoin has been bearish since early July 2025, when it recorded a high of $3.658. The market cap of stablecoins on the XRP Ledger was at $855.6 million, a 14.8% reduction.