XRP Drops Key 2026 Support but Is Not Finished Yet

XRP is trading below its 200-day moving average (MA) for the first time since August 2026. Although it touched beneath this technical level in mid-September 2026 and twice in October, it was brief and didn't trade below it for long. XRP sharply fell on Thursday after news of the Binance heist, which impacted nearly $300 million in XRP, surfaced. The Binance hack, which has affected $6.3 billion in client assets, is described as the largest crypto theft on record, with crypto prices dropping afterwards. XRP fell to a low of $1.22, dropping below its 200 DMA shortly after. The decline continued on Friday, reaching a low of $1.19 as investors weighed a flurry of economic data and the Federal Reserve's latest interest rate decision of the week.

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