XRP is down 5% in the last 24 hours, trading at $2.61 on December 4, following panic selling triggered by South Korea declaring martial law. The price drop began on December 3, with XRP losing 8% as the news spread. This caused significant turmoil on South Korean exchanges, where XRP flash-crashed over 50% to $1.30 on Upbit, the largest exchange in the country. Investors are capitalizing on profits, with over $4 billion realized in the last three days, marking the highest profit-taking since April 2021. The number of XRP being deposited into exchanges increased dramatically, signaling an intent to sell. Additionally, XRP's relative strength index (RSI) has indicated overbought conditions above 70, suggesting buyers have exhausted themselves. The short-term downside target appears to be around $2.50, which may serve as strong support for potential latecomers to the rally.

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