XRP tumbled to $1.14 on Wednesday, its lowest mark in four months, dragged down by a broad market sell-off rather than any token-specific shock. The price slide comes as on-chain data shows whale withdrawals from Binance hit their weakest point in four years, and technical indicators flash bearish across multiple timeframes.
Technical trouble in the charts
XRP is now trading below its 7-day, 14-day, and 30-day moving averages — a clear short-term downtrend. Weekly exponential moving averages between $1.50 and $1.78 have consistently rejected every rebound attempt, forming a stubborn ceiling overhead. The 200-day moving average around $1.64 marks the line between bullish and bearish regimes. XRP hasn't touched that level in weeks.
The immediate support floor sits at $1.14, with $1.11 (February's low) and $1.00 (the monthly Bollinger band floor) waiting below if that breaks. A drop through $1.14 would open the door to more pain.
Whale withdrawals hit a four-year low
Over the past 30 days, large holders pulled just 978 million XRP from Binance — the lowest monthly figure since 2021. CryptoQuant data confirms that big-money accumulation has effectively stalled during this decline. That's a worrying sign, because whale deposits to exchanges often precede sells, but withdrawals signal holding or cold storage. The slowdown suggests whales are sitting on their hands.
What could turn it around
For XRP to recover, three things need to align: the $1.14 support must hold, whale withdrawals need to pick back up, and the U.S. Congress needs to pass the CLARITY Act floor vote before the August recess. The bill — which would settle the regulatory status of digital assets like XRP — is the biggest XRP-specific catalyst on the horizon. No floor date has been set yet.
Until then, XRP's fate is mostly tied to the broader market. That hasn't been kind this week.
