The XRP price slid on Wednesday to its lowest level in four months, hitting $1.14. The drop has contributed to a broader soft patch across crypto, and both chart analysis and on-chain indicators are now pointing to a more bearish environment for the altcoin.
XRP Price Slips Below Key AveragesMarket expert Sam Daodu, in a fresh breakdown of what’s driving the move, argued that there currently isn’t much for bulls to lean on. One of the most immediate issues is trend structure.
He noted that the weekly exponential moving averages (EMAs) sit higher, clustered between $1.50 and $1.78, which has effectively capped every rebound attempt. That means even when XRP bounces, buyers have struggled to push it out of that upper resistance band.
The expert placed this key reference price at about $1.64, describing it as a “long climb back” from current trading levels at around $1.17 at the time of writing—underscoring how far the asset would likely need to recover to regain a more constructive trend.
Whale Withdrawals Hit 4-Year LowOver the past 30 days, whale withdrawals are down to roughly 978 million XRP, which Daodu described as the lowest reading since 2021, essentially a four-year low.
In the same period, CryptoQuant data indicates large-holder accumulation has stalled, implying that big holders aren’t adding with conviction during this decline.
The third is $1, aligned with the monthly Bollinger floor and treated as a potential endpoint if selling pressure persists. He also emphasized that if macro conditions don’t ease and whales keep showing reluctance to accumulate, these levels could become the next stops.
What The Recovery Depends OnThe second factor is the CLARITY Act floor vote. A vote scheduled before the August recess would help clarify the regulatory picture, while no vote could deepen disappointment and add to existing macro pressure.
Even with these bearish indicators, Daodu cautioned that the drop isn’t necessarily rooted in XRP-specific fundamentals. He argued that the XRP price was pulled lower alongside the rest of the market, meaning the next phase likely depends on how those broader market conditions develop.
Featured image created with OpenArt; chart from TradingView.com
