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.