XRP slides to $1.09 as macro selloff drags altcoins 18% lower

XRP fell 4% in the past 24 hours to $1.09, its lowest since January 2024, as a macro-driven selloff swept across crypto assets and erased $1 billion in leveraged positions.

"Over the last four months XRP spent the majority of its time hovering just above its upper regression band," ChartNerdTA, a pseudonymous technical analyst, said on X. "Price is now sweeping below, which historically points toward the middle regression band for a potential low at $0.84."

XRP now trades below its 20-, 50-, 100- and 200-day moving averages, a full bearish alignment that confirms sellers control every timeframe. The 14-day RSI slipped to 29, deep in oversold territory. Over $1 billion in leveraged positions were liquidated across crypto exchanges in the past 24 hours, Coinglass data shows. Bitcoin fell below $60,000 for the first time since October 2024, while Ethereum dropped 9.8% in its worst single-day move among major coins.

The next support sits at $1.05, followed by the psychological $1.00 level. A break below $1 would erase the entire post-SEC settlement rally that took XRP from sub-$0.50 to $3.65 in mid-2025. The CLARITY Act floor vote before the August recess could determine whether XRP holds or breaks lower, with Galaxy Research giving the bill 75% odds of passing in 2026.

Whale accumulation tells a different story

While the price chart bleeds, on-chain data shows the largest holders are accumulating. Wallets holding at least 10,000 XRP hit a record 332,230 in May, and whales controlling 10 million or more tokens now hold 45.83 billion XRP, or 68.5% of circulating supply — the highest concentration since May 2018, according to on-chain data.

Binance whale outflow dominance recently hit 91.4%, the same reading that preceded XRP's rally from $0.50 to over $3 in late 2024. The divergence between falling price and rising whale accumulation suggests large holders see the current level as a buying opportunity rather than an exit.

CLARITY Act vote looms as the deciding factor

The CLARITY Act cleared the Senate Banking Committee on May 14 and was placed on the Senate Legislative Calendar on June 1. The floor vote before the August recess is the next major milestone. If the bill passes and macro conditions stabilize, Standard Chartered forecasts XRP could reach $2.80, with the bullish analyst range extending toward $8. If the bill stalls, prices could drop closer to $0.53, according to Galaxy Research.

The next four weeks will be decisive. The May CPI release on June 10 and the FOMC meeting on June 16-17 will set the macro tone, while the CLARITY Act floor vote determines whether XRP holders should buy the $1 retest or brace for a break.

This article is for informational purposes only and does not constitute investment advice.