XRP Dips Sharply After Posting Weekly High, Triggers Major Liquidations

Key Points

1. XRP fell by nearly 10% over recent sessions, marking its largest daily loss since April, with a 10.33% drop on Wednesday alone.

2. XRP futures open interest decreased by 16.8%, from $10.94 billion to $9.10 billion, reducing speculative confidence.

3. Whale movements, including transfers of over 50 million XRP tokens (worth roughly $140 million), contributed to the decline.

4. The 90-day average for whale flow has changed, potentially signaling a local price peak, as indicated by CryptoQuant data.

5. Key support levels for XRP include $3.00 and $2.64, with $2.95 established as immediate support after Thursday’s decline.