XRP falls below 200-day moving average after Binance hack, drops to $1.19

XRP dropped below its 200-day moving average for the first time since August 2026, signaling a period of technical weakness. Previous dips below this level in recent months were brief, with the asset quickly recovering. However, this week’s decisive decline has drawn renewed attention from market participants. The downturn in XRP intensified after Binance, one of the world’s largest cryptocurrency exchanges, reported a security breach involving nearly $300 million in XRP. The incident formed part of a wider attack in which total estimated losses reached $6.3 billion across client assets. Binance’s confirmation of the breach, which is considered the largest theft in the history of the cryptocurrency sector, triggered broad price declines across major digital assets.

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