XRP Price Faces Downside Pressure from Whales, Institutional Appeal Remains Strong

XRP has been experiencing significant sell pressure from whales, leading to a potential short-term capitulation in its price. Data from CryptoQuant shows that large XRP holders have been transferring their coins to Binance over the past week, which could add downward pressure on the cryptocurrency.

The analysis suggests that if this trend continues, XRP's current support level may be at risk of being lost, leading to a retest of the $1.11 price level. This would mark another significant decline in XRP's price, following its recent consolidation phase.