XRP’s price dropped to a low of $1.78 on February 3 but rebounded above $2 due to significant buying, particularly by Korean traders on exchanges like Upbit and Bybit.

Over 180 million XRP tokens were moved to exchanges, indicating increased whale transactions since early January, which points to strategic moves by larger investors.

Open interest for XRP futures fell by 44% in February, suggesting a retreat from leveraged positions as traders reacted to the volatility in the market.