XRP slides below key support as Binance withdrawals surge and US CLARITY Act hearing approaches

XRP has broken through the $1.13 support zone and is now testing the $1.08‑$1.10 range. Multiple 4‑hour candles closed below the former support, signaling a confirmed bearish structure. The token’s price slipped to around $1.09 on June 24, with further downside risk toward $1.05 if the $1.08 level fails.

On‑chain data shows a sustained outflow of XRP from Binance: for seven consecutive days withdrawals have exceeded deposits, reaching a 7‑day share of 53.8 % – the highest level since June 2024. Binance’s on‑exchange XRP balance has fallen from about 3.25 billion to 2.69 billion over the past year, indicating a potential shift toward self‑custody rather than immediate market selling.

Open interest in XRP futures has risen to roughly $2.6 billion, while funding rates remain only modestly positive, suggesting new leveraged positions are being built. At the same time, institutional interest persists, with spot XRP ETFs recording $5.31 million of net inflows on June 22 and cumulative inflows nearing $1.45 billion.

Regulatory developments add further context. The US Congress is preparing a July 17 hearing of the House Financial Services Committee on the digital‑asset CLARITY Act, which would classify XRP as a digital commodity and provide clearer regulatory treatment for institutional investors. Analysts see the act’s progress as a potential catalyst that could influence XRP’s market dynamics.