XRP price has declined by 4.8% over the last 24 hours, reflecting a broader market dip of 6.5%. Trading volume saw a significant increase of 114%, signaling heightened sell-side activity. The price drop has been associated with substantial long position liquidations amounting to over $12.92 million. In contrast, only $3.86 million worth of short positions were liquidated. XRP's funding rates fell from 0.21% to -0.11%, indicating decreased demand for long positions. Additionally, long-term holders have reportedly offloaded approximately $467 million worth of XRP since hitting a local high of $2.50. The increased supply due to this offloading has contributed to the recent price decline. Analysts suggest that the current correction could extend beyond $2.45 resistance if not supported, potentially revisiting levels around $2.15 or even $2.00. Despite these challenges, some analysts remain optimistic about XRP's potential for upward movement in the future.

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