XRP The trading price has fallen below its 200-day moving average (MA) for the first time since August 2026. Although it briefly broke below this technical level in mid-September 2026 and touched it again twice in October, these were just short-term dips, and it did not remain below that average for an extended period of time.
On Thursday, following the news of Binance being attacked by hackers, XRP tumbled significantly. This incident affected nearly $300 million of XRP. The Binance hack resulted in the theft of $6.3 billion in customer assets, which has been dubbed the largest cryptocurrency theft case in history, and subsequently, cryptocurrency prices generally fell. XRP once dropped to $1.22 and soon thereafter fell below its 200-day moving average.
Key events, including the personal consumption expenditure price index released on Thursday, also had an impact on the crypto market. The index rose by 0.5% month-on-month and 3.6% year-on-year, exceeding the Federal Reserve's target of 2%. At the same time, the central bank decided to keep key interest rates unchanged the previous day, and the news of Binance being attacked compounded this pressure, collectively weighing down on the crypto market.
On Friday, XRP fell to $1.19 before rebounding, but the bulls still did not gather enough strength to regain the 200-day moving average. As of press time, XRP was still below that level.
There is still some hope.
XRP Breaking below the 200-day moving average has raised new doubts about the short-term momentum of this cryptocurrency, but this does not necessarily mean that its rebound prospects have come to an end.
Traders are watching the price trend of XRP to see if it can hold above the 50-week moving average ( WMA ) on the weekly chart, in order to maintain a bullish outlook. If this support level is breached, XRP could fall to $1, or even $0.98. On the other hand, if XRP can hold above the weekly support level, it might rise to $1.70.
In the financial market, investors are paying attention to important employment data in the coming days, including the non-farm payroll report for October to be released on Friday.
He Yi, co-founder of Binance, stated in a recent update that Binance has used $6.34 billion from its own funds to purchase major cryptocurrencies, including XRP and RLUSD.
Among the current Binance user funds, XRP, RLUSD, and other major cryptocurrencies now all have 100% reserve support.
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