Recently, XRP whales sold 220 million XRP for approximately 500 million USD, raising concerns about the altcoin’s ability to recover in the short term. Major holders are exhibiting bearish sentiment, affecting overall market confidence regarding XRP’s price stability.

XRP is currently testing important support at 2.14 USD. A failure to hold this level may indicate further declines. However, if XRP manages to reclaim 2.33 USD as a support level, it could shift the trend positively and aim for a target of 2.60 USD.