Perhaps due to the quickly re-escalating tension in the Middle East, the cryptocurrency market has posted fresh losses over the past few hours, with BTC dropping to $62,000 after failing to reclaim the $63,000 support during the day.XRP was not spared, as it just slipped below $1.05. The asset was rejected at $1.20 during the mid-July rally after the favorable US inflation data for June, and eventually lost the coveted $1.10 support. Now, it fights for the last line of defense before the bulls would have to defend the $1.00 zone.Popular analyst EGRAG CRYPTO outlined the significance of the $1.05 level, calling it the ‘battlefield’ region. Although he noted earlier today that the cross-border token had managed to maintain that level, he acknowledged the predominantly bearish structure of lower highs on the 4-hour chart.The short-term path of recovery would be a successful defense of $1.05 before XRP can bounce above $1.083 and eventually reclaim the $1.10 level, which now acts as resistance.EGRAG laid out an even more promising road ahead for the asset if it manages to continue its recovery, with the “major price target” set at $1.30.However, a decisive breakdown below $1.05 would essentially mean that XRP will head toward the notable liquidity zone at around $1.00, he warned.Mikybull Crypto also believes XRP has the strength to stage a surprising comeback. The analyst claimed that the asset’s bullish reversal run is currently loading despite the negative outlook.His long-term chart compares the current market structure with the one from two years ago when XRP was highly compressed at around $0.60. Once it broke out the upper boundary, though, it rocketed to a fresh all-time high within less than a year.“Before the last run, I screamed for you to buy at a crazy discount. The opportunity is presenting again,” he said now.History is not on XRP’s side at the moment, though, as August has been quite a painful month for the asset. As reported earlier today, the cross-border token was deep in the red in all four previous editions.The post XRP Price Dips to ‘Battlefield’ Zone, but Analysts See Major Reversal Opportunity appeared first on CryptoPotato.