XRP (XRP) slid to about $1.21, its lowest in 15 weeks, even as analyst Crypto Patel argued the slump could mint fresh millionaires for patient buyers.
Key Points:
- XRP fell near $1.21, a 15-week low, after a roughly 7% three-day slide.
- Whale wallets reached a record 332,230 addresses while more than 25 million tokens left exchanges.
- Crypto Patel frames the drop as an accumulation window, with long-term targets that climb toward $10.
XRP Price Sinks To February Lows
The token slipped to near $1.21 on Thursday, its lowest since Feb. 6, after sellers drove it down about 7% in three sessions. It closed May at $1.33, then eased to $1.29 on Jun. 1 before sliding deeper this week. Market value settled near $74.76 billion, far below the $2.30 it fetched in January.
Short bets now outweigh longs by nearly nine to one, a lopsided setup that can amplify any sudden reversal. The slide also dragged the coin beneath its 20, 50 and 200-day moving averages. Selling volume on the breakdown stayed heavy, a sign the move carried real conviction.
Also Read: Bitcoin Briefly Slips Under $62K As Liquidations Sweep The Market
Crypto Patel Sees Accumulation Window
Patel told followers the selloff looks like a buying chance rather than a top, and he marked the $1.10 to $1.30 band as his current accumulation zone. He flagged $0.65 to $0.85 as what he called a generational entry, with longer-term targets that climb toward $10. He has urged buyers to add gradually during fear instead of chasing rallies later.
His case leans on momentum and on the flows beneath the price. The daily RSI hovered near 27.55, deep in oversold ground, while the monthly gauge sank into its fourth deep reset in 13 years. Whale wallets holding at least 10,000 tokens reached a record 332,230 as more than 25 million coins moved off exchanges this week.
Those readings matter because XRP has touched such extremes only a handful of times in its history. Past resets in 2017, 2020 and 2022 each preceded strong recoveries, though none guaranteed an immediate turn. Even through the selloff, the token still drew fresh exchange-traded fund money while rivals bled.
Regulatory Clarity Could Lift XRP
Attention has turned to the CLARITY Act, the market-structure bill that lawmakers placed on the Senate calendar on Jun. 1. The measure cleared the Senate Banking Committee in a 15-9 vote, and it still needs 60 votes on the floor to advance. Backers say clear federal rules would finally invite the institutions that have stayed on the sidelines.
Ripple has long sought that certainty for the asset it helped popularize. XRP began 2026 above $2.30 on spot ETF optimism, then drifted through a long spring downtrend that erased most of those gains by May. The latest leg lower simply pushed it back into a demand zone that long-term holders have tracked for months.
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