XRP lost its $1.28 support on June 1 with a volume of 96.26 million tokens and has fallen to a low of $1.14. The drop came during a market-wide sell-off that took Bitcoin to $61,351 (its lowest level since February) and BTC spot ETFs on a $3 billion outflow streak over 13 days. Strategy also revealed the sale of 32 BTC, its first sale in over four years, although analysts mostly agree that the sale was a routine balance sheet cleanup, not a change in Strategy’s conviction on Bitcoin.
XRP is trading below all major moving averages: the weekly EMAs are clustered between $1.50 and $1.78, and the 200-day SMA at $1.64 marks a long climb back up. Binance whale withdrawals have fallen to a 4-year low of 978 million XRP in 30 days, showing that large XRP holders have stopped accumulating.
XRP’s RSI has fallen to 27.55, which is deeply oversold. The current low of $1.15 also aligns with XRP’s February 2026 low of $1.11 during the collapse of the Iran war, making it a significant demand zone. And despite the price weakness, large XRP holders have continued to buy, with wallets holding at least 10,000 XRP reaching a record high of 332,230 in May.
Three things have changed in XRP’s favor this month, even as the price has fallen. CME launched 24/7 XRP futures on June 1 with Ripple Prime as a clearing partner, Ripple expanded its DC policy office on June 3, and the CLARITY Act was included in the Senate Legislative Calendar. Polymarket now gives the bill a 55% chance of passing in 2026.
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If you have been holding XRP (CRYPTO:XRP) for the past few days, the chart already says a lot about how you feel. The $1.28 support that has held for most of the year was broken on June 1 and the price has continued to fall.
XRP price is now trading around $1.15, with the broader crypto market in the red. Bitcoin’s drop from over $70,000 to $61,000 in less than a week has dragged down most altcoins, and XRP is feeling the worst.
With XRP price under strong bearish pressure, should holders sell, hold or buy on the dip?
Why XRP lost the $1.28 support level
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XRP lost $1.28 on Monday, June 1, on a volume of 96.26 million tokens. It has since fallen to $1.15, with a daily range as low as $1.14.
The $1.28 level was broken as part of a market-wide decline, not an XRP-specific failure. Bitcoin fell from over $70,000 to a low of $61,500 in less than a week, marking its lowest level since February. The total cryptocurrency market cap is now testing $2 trillion, the same low it hit at previous panic lows this year.
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In addition to the Bitcoin price drop, there are three other reasons for the current market sell-off. First, Bitcoin spot ETFs are now on a 13-day outflow streak (the longest since the products launched), with approximately $3 billion withdrawn during that period. The second is that the conflict between Iran and Lebanon has escalated again, sending capital into gold and Treasuries. And the latest is that the Federal Reserve’s stance of keeping rates higher for longer kept pressure on risk assets.
The catalyst that triggered the selloff was a strategy filing with the SEC on June 1. The company revealed that it sold 32 Bitcoin between May 26 and May 31 to fund STRC preferred stock dividend payments. It was Strategy’s first disclosed sale in more than four years.
Most analysts agree that the 32 BTC sale was too small to disrupt Strategy’s long-term accumulation strategy (the company still owns 843,706 BTC), but the symbolic impact was large. MSTR fell approximately 6% and the “never sell” rule that defined Strategy’s identity for years was broken for the first time in a long time.
Why it makes sense to sell XRP here
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If you are looking at the chart right now, there is not much for the bulls to hold on to. XRP is trading below its 7-day, 14-day, and 30-day moving averages, meaning the short-term trend is pointing down on each time frame.
The weekly EMAs are clustered between $1.50 and $1.78, and all recovery attempts this summer have stalled within that range. The 200-day moving average, which most traders use as a line between an uptrend and a downtrend, reaches $1.64. This is a long climb from $1.15.
The chart pattern is also broken, with XRP breaking out of a symmetrical triangle on June 1, and some technical analysts now targeting $1.14 as the next stop. And if support continues to break, the monthly Bollinger Bands point even lower, with $1 as the next area in play.
On-chain data is also not helping the bulls. Binance whale withdrawals, which are usually a silent bullish signal because it means large holders are withdrawing XRP from exchanges to hold it long-term, have fallen to approximately 978 million XRP in the last 30 days. That’s the lowest reading since 2021, a 4-year low. Large holders of
So if you are thinking about selling, the bearish setup goes through three numbers from here. The first is $1.14, which is the next immediate technical target. The second is $1.11, which was the February low. And the third is $1.00, which is where the monthly Bollinger floor is. If the macro pressure does not ease and the whales stay on the sidelines, those will be the next stops.
Why it makes sense to hold or buy more
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XRP’s RSI has fallen to 27.55, which is in oversold territory, and the stochastic oscillator is even deeper. These readings do not guarantee a bounce, but they are exactly the conditions under which short-term bounces typically occur.
Additionally, the $1.00 to $1.15 range aligns with XRP’s February 2026 low of $1.11 during the collapse of the Iran war, meaning this is a level that has held under similar pressure before. And despite all the price weakness this year, large holders of XRP have continued to buy. Wallets containing at least 10,000
There are also three things that have changed in XRP’s favor this month, even as the price continues to fall. The first is that CME launched 24/7 XRP futures on June 1, with Ripple Prime as a clearing partner from day one. That infrastructure didn’t exist a month ago and opens up institutional access in a way that spot trading alone never could.
The second is that Ripple expanded its policy office in DC on June 3, deepening its engagement with US regulators ahead of a critical legislative window. And the latest is that the CLARITY Act, the market structure bill that the cryptocurrency industry has been pushing for two years, was placed on the Senate Legislative Calendar on June 1.
If the CLARITY Act passes the Senate before the August recess, the regulatory overreach that has held back XRP for years is finally cleared up, and buyers who step in today at $1.15 will be rewarded for the time being.
What XRP Holders Should Watch Now
Whether you sell, hold, or buy more depends on how three things play out from here. The first is the $1.14 line. If it holds, the bullish setup has room to develop, and if it breaks, the decline could reach $1.11 and possibly $1.00.
The second is the plenary vote on the CLARITY Act. A vote before the August recess would resolve the regulatory issue one way or another, while no vote would add further disappointment to existing macroeconomic pressure.
The third is Binance whale withdrawals. If they start to rise again above the current 30-day figure of 978 million, it will be a sign that large holders are accumulating again, which is bullish.
That being said, it is important to note that XRP did not break out because of its own fundamentals, but because it was dragged down with the rest of the market. So what happens from now on depends on those conditions and how the market in general behaves.
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