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XRP Recovery Toward $3 Fails After 24M Tokens Moved to Binance
XRP’s attempt to continue its recovery toward the $3 mark has failed, as the cryptocurrency faced potential selling pressure following a large on-chain transfer.
According to Whale Alert, on October 13, a total of 23,880,253 XRP worth about $62.64 million was transferred from an unknown wallet to the Binance exchange.
Such massive transactions often spark speculation that crypto whales are preparing to sell, which negatively affects market sentiment and price stability.
To assess short-term dynamics, OpenAI’s ChatGPT language model predicted that the XRP price could retrace to around $2.40–$2.45, while extended selling might push it as low as $2.20.
If market demand manages to offset selling pressure, XRP could enter a consolidation phase before another attempt to break resistance at $3.
Analyst Mikybull noted that XRP still shows one of the most bullish trends in the crypto market, as it consolidates below a key Fibonacci resistance level following a strong multi-month rally.
At the time of publication, XRP was trading at $2.58, up 8.1% over the past 24 hours but still down 14% for the week.
See also: "Bitcoin Price Today: Falls to $113K Amid U.S.–China Trade Tensions"
