If you’ve 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 broke on June 1, and the price has kept dropping.
The XRP price now trades around $1.15, with the broader crypto market in the red. Bitcoin slipping from above $70,000 to $61,000 in less than a week has pulled most altcoins down with it, and XRP is feeling some of the worst of it.
With the XRP price under heavy bearish pressure, should holders sell, hold, or buy the dip?
Why XRP Lost the $1.28 Support Level
XRP lost $1.28 on Monday, June 1, on a volume of 96.26 million tokens. It has since traded down to $1.15, with the daily range stretching as low as $1.14.
The $1.28 level broke as part of a market-wide crash, not an XRP-specific failure. Bitcoin fell from above $70,000 to a low of $61,500 in less than a week, marking its lowest level since February. The total crypto market cap is now testing $2 trillion—the same low it touched at this year’s earlier panic lows.
Asides from Bitcoin’s price dropping, there are three other reasons for the current market sell off. First is that spot Bitcoin ETFs are now on a 13-day outflow streak—the longest since the products launched—with roughly $3 billion withdrawn across the run. The second is that the Iran-Lebanon conflict has escalated again, sending capital toward gold and Treasuries. And the last is the Federal Reserve’s higher-for-longer rate stance kept the pressure on risk assets.
The catalyst that triggered the selloff was a Strategy SEC filing on June 1. The company disclosed selling 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.
Analysts mostly agree the 32-BTC sale was too small to alter Strategy’s long-term accumulation strategy—the company still holds 843,706 BTC—but the symbolic impact was big. MSTR fell roughly 6%, and the “never sell” rule that defined Strategy’s identity for years has been broken for the first time in a long while.
Why Selling XRP Here Makes Sense
If you are looking at the chart right now, there is not much for bulls to hold onto. XRP is trading below its 7-day, 14-day, and 30-day moving averages, which means the short-term trend is pointed down across every timeframe.
The weekly EMAs are clustered higher up between $1.50 and $1.78, and every recovery attempt this summer has stalled inside that range. The 200-day moving average, which most traders use as the line between a bull and bear trend, runs through $1.64. That is a long climb back from $1.15.
The chart pattern is also broken, with XRP breaking from a symmetrical triangle on June 1, with some technical analysts now targeting $1.14 as the next stop. And if support keeps cracking, the monthly Bollinger Bands point even lower, with $1 as the next zone in play.
On-chain data is not helping the bulls either. Whale withdrawals from Binance, which is usually a quiet bullish signal because it means large holders are pulling XRP off exchanges to hold long-term, have dropped to roughly 978 million XRP over the past 30 days. That is the lowest reading since 2021, a 4-year low. Big XRP holders are not accumulating right now, and per CryptoQuant, large-holder accumulation has stalled, which signals a lack of conviction during this decline.
So if you are thinking of selling, the bearish setup runs through three numbers from here. The first is $1.14, which is the immediate next technical target. The second is $1.11, which was February’s low. And the third is $1.00, which is where the monthly Bollinger floor lies. If macro pressure doesn’t ease and whales stay on the sidelines, those are the next stops.
Why Holding or Buying More Makes Sense
XRP’s RSI has dropped to 27.55, which is deep in oversold territory, and the Stochastic Oscillator is even deeper. These readings don’t guarantee a bounce, but they are exactly the conditions where short-term bounces typically happen.
Moreover, the $1.00 to $1.15 range aligns with XRP’s February 2026 low of $1.11 during the Iran war crash, which means this is a level that has held before under similar pressure. And through all the price weakness this year, large XRP holders have kept buying. Wallets holding at least 10,000 XRP hit a record 332,230 in May, a count that has grown through every drawdown XRP has had in 2026.
There are also three things that have changed in XRP’s favor this month, even as the price keeps falling. The first is that CME launched 24/7 XRP futures on June 1, with Ripple Prime as the day-one clearing partner. That infrastructure didn’t exist a month ago, and it opens up institutional access in a way spot trading alone never could.
The second is that Ripple expanded its D.C. policy office on June 3, deepening its engagement with U.S. regulators ahead of a critical legislative window. And the last is that the CLARITY Act, the market structure bill the crypto industry has been pushing for two years, was placed on the Senate Legislative Calendar on June 1.
If the CLARITY Act passes the Senate floor before the August recess, the regulatory overhang that has held XRP back for years finally clears, and the buyers stepping in at $1.15 today get rewarded for the timing.
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 play out, and if it breaks, the slide could run to $1.11 and possibly $1.00.
The second is the CLARITY Act floor vote. A vote before the August recess would settle the regulatory question one way or the other, while no vote piles further disappointment onto the existing macro pressure.
The third is whale withdrawals from Binance. If they start climbing back above the current 978 million 30-day figure, it’ll signal that large holders are accumulating again, which is bullish.
That said, it’s important to note that XRP didn’t break because of its own fundamentals, but because it got dragged down with the rest of the market. So, what happens from here depends on those conditions and how the broader market behaves.
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