XRP slides below 200‑day average to $1.19 after Binance breach
The cryptocurrency fell to $1.19, breaking its 200‑day moving average for the first sustained breach since August 2026. The drop followed news that a Binance security incident had exposed roughly $300 million worth of XRP, part of a larger $6.3 billion client‑asset loss. The move coincided with a Federal Reserve rate hold and inflation data that showed price growth above the Fed’s 2 % target. Binance said it will use $6.34 billion of its own funds to purchase major digital assets, including XRP, and now claims 100 % reserve backing for those holdings.
Why it matters
Technical analysts see the loss of the 200‑day average as a bearish signal that could push XRP toward the $1.00 psychological level, increasing short‑term downside risk. Binance’s $6.34 billion buy‑back may provide some price support, but the market remains sensitive to further macro data releases.
Key facts
- 1XRP fell to $1.19 on Friday, staying below its 200‑day moving average. u.today
- 2The price drop followed a Binance breach that involved about $300 million of XRP. finance.biggo.com
- 3The Binance incident was part of a broader attack that resulted in $6.3 billion of client‑asset losses. hokanews.com
- 4The Federal Reserve kept its benchmark interest rate unchanged, and the personal consumption expenditures index rose 0.5 % month‑over‑month and 3.6 % year‑over‑year. u.today
- 5Binance allocated $6.34 billion from its own funds to buy major cryptocurrencies, including XRP, and says those assets now have 100 % reserve backing. u.today
- 6Open interest on Binance futures rose 9.19 % to $362.6 million over 24 hours. finance.biggo.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.