XRP Prices Plunge Below $1 as Whales Accumulate
XRP's price has fallen below the critical $1 threshold, settling at around $0.9942. Despite this bearish trend, large-scale transactions exceeding $1 million have increased by 280%, with over 38 significant transfers recorded in a 24-hour window.
Open interest for XRP on Binance has reached its highest level in two months, indicating heightened derivatives market participation. Trading volume in the derivatives sector rose by 12.48% to $1.55 billion, while futures open interest declined modestly.
The disconnect between downward price action and elevated large-wallet movements was highlighted by digital asset analyst Ali Charts (@alicharts), who noted: ‘$XRP WHALES ARE BACK! Whale activity on the XRP Ledger has exploded over the past 24 hours. The number of transactions exceeding $1 million has surged 280%, climbing to more than 38 large transactions.'