XRP Dropped Below 2.60 Dollars, 63 Million Dollars Sold

XRP has encountered selling pressure around the 2.66 Dollar level; this situation arose after a large transfer to Binance indicated short-term distribution. Institutional purchases managed to maintain the 2.55 Dollar support level amid increased trading volume.

Investors are closely monitoring the 2.55 Dollar support level for possible market changes, while the 2.65-2.66 Dollar resistance zones are also under close scrutiny. Aggressive selling from the 2.66 Dollar resistance and significant Binance flows signal short-term distribution. Volume data indicates that institutional investors have made dip purchases around the 2.55 Dollar level.

The recovery from below 1.58 Dollars on Friday has lost momentum overnight due to new whale activities. A transfer of 23.9 million XRP (approximately 63 million Dollars) to Binance, combined with selling pressure, erased initial gains. This movement came with open positions increasing by 2.4%, reaching 1.36 billion Dollars, showing that leveraged positions are still at high levels. Despite a market cap recovery of 32 billion Dollars following Trump's tariff-induced crypto crash, while broader risk markets stabilized, derivative desks reported a re-accumulation of short positions around the 2.65-2.66 Dollar levels.

XRP traded between 2.54 Dollars and 2.66 Dollars, a range of 0.11 Dollars (4 percent), from 05:00 on October 13 to 04:00 on October 14. Volume reached 244.6 million Dollars at 13:00, nearly three times the average of 91.8 million Dollars, confirming aggressive dip purchases near the 2.55 Dollar level. The price peaked at 2.66 Dollars at 20:00, while ongoing selling caused a close at the 2.55 Dollar level. Bears maintained control in the last hour, breaking the 2.57 Dollar support with 4 million Dollars in volume at 04:10 and consolidating around 2.55-2.56 Dollars towards the close.

The 2.55-2.56 Dollar region continues to maintain short-term support backed by high volume. The 2.65-2.66 Dollar levels provide strong resistance due to profit-taking and whale flows. Momentum bias remains bearish, with XRP trading below its 200-day moving average (2.63 Dollars). However, sustained demand above the 2.60 Dollar level could potentially reset the structure for a 2.70 Dollar test. Volume remains a critical determinant; spikes in dip purchases indicate the weakness of institutional buying, but lower highs suggest that supply still exceeds demand.

Key Points Investors Are Watching: 2.55 Dollar support level - how much can this support hold during the weekend Asian sessions? Reactions to the 2.65-2.66 Dollar resistance region. Binance whale flows as signals of ongoing distribution or rotation. If open positions (1.36 billion Dollars) remain high, there is potential for leverage reduction.