XRP Faces Selling Pressure as Whale Activity Increases
- XRP saw a significant transfer of $63 million (23.9 million XRP) to Binance, contributing to selling pressure.
- Open interest in XRP increased by 2.4% to $1.36 billion, indicating elevated leveraged positioning.
- The price of XRP fluctuated between $2.54 and $2.66, closing at $2.55 after a sell-off.
- Volume surged to 244.6 million XRP, nearly three times the average of 91.8 million.
- Support remains at the $2.55–$2.56 range, while resistance is noted at $2.65–$2.66.
Recent whale activity, including a major transfer to Binance, has led to aggressive selling near key resistance levels for XRP, with significant volume indicating institutional buying at lower prices.
As XRP closed at $2.55 following this volatility, traders are closely monitoring whether support can hold through weekend sessions and how it reacts to the resistance zone around $2.65–$2.66.(Source)
