XRP is trading below its 200-day moving average for the first time since August, breaking a key technical support level for 2026.

U.Today, a blockchain media outlet, reported on Saturday that XRP slid as low as $1.19 last week as the impact of news of a Binance hack overlapped with U.S. inflation data and the Federal Reserve’s rate decision.

The drop accelerated after reports of the Binance hack. Total losses were estimated at $6.3 billion, with about $300 million tied to XRP. Prices of major cryptocurrencies also fell in tandem following what was described as the largest crypto theft on record. During the selloff, XRP fell to $1.22, moving below its 200-day moving average, and set a lower low of $1.19 last Friday.

Macro factors also deepened the decline. The personal consumption expenditures (PCE) price index rose 0.5 percent from the previous month and 3.6 percent from a year earlier, above the Federal Reserve’s 2 percent target. The inflation reading came shortly after the central bank kept its benchmark rate unchanged, prompting investors to adjust exposure across risk assets. The market is weighing whether XRP’s short-term momentum has weakened.

The key point to watch is whether XRP can defend the weekly support level at its 50-week moving average. Traders see a bullish trend as still possible if XRP holds above that zone. If it breaks, targets of $1, or as low as $0.98, could come into play. If weekly support holds, a rebound to $1.70 is also being discussed.

The market is also watching upcoming jobs data. Some see Friday’s October nonfarm payrolls report as a potential driver of additional volatility. With the crypto market recently reacting at the same time to hacking fallout and to inflation and rate factors, short-term price moves are likely to depend on macro data and whether risk appetite recovers.

Binance’s follow-up response is also a factor. He Yi (이허), Binance’s co-founder, said recently that the company used $6.34 billion of its own funds to buy major cryptocurrencies including XRP and RLUSD. She added that customer deposits for major assets, including XRP and RLUSD, are fully backed by reserves.

As a result, the near-term focus for XRP is whether it can regain its 200-day moving average, while the bigger dividing line will be whether it can defend the 50-week moving average.