On January 12, a significant whale dumped about 30.17 million XRP, equating to nearly 76.34 million USD. This event contributed to bearish momentum in the cryptocurrency market, with XRP’s price dropping by over 2.55% within a day, currently trading at approximately 2.42 USD.
Following the whale sale, Binance reported an increase of 34 million XRP in its reserves, indicating potential sell-off behaviors. Should XRP’s daily closing price fall below 2.30 USD, a further decline to 1.92 USD, representing a possible 20% drop, may occur.