Recently, XRP has experienced a significant price fluctuation. After reaching a high of $3.60, the price of XRP has fallen back to the level of $2.93. However, despite the price correction, on-chain data shows that the transfer volume exceeded 500 million XRP within 24 hours, indicating that large holders and institutional investors are still actively participating in the market.

This phenomenon has attracted the attention of market participants: does the current price trend indicate that the market is about to turn bearish, or is it merely a healthy consolidation?

From a technical perspective, the Relative Strength Index (RSI) has declined to 47, indicating that selling pressure has eased. At the same time, the sustained activity on-chain shows that network demand remains strong. Currently, key support levels of interest in the market include the 26-day Exponential Moving Average (EMA) and the $2.80 price region.

It is worth noting that this price correction seems more like a natural adjustment after a parabolic rise, rather than a panic sell-off. The continued activity of whales indicates that the main funds have not withdrawn from the market. As the RSI indicator completes its de-bubbling process, the technical aspect is gradually approaching a stabilization zone.

Looking ahead, if XRP can hold its key support level, there is a possibility of breaking through the $3 mark again, which could even trigger a new round of bullish momentum. However, investors still need to closely monitor market trends and cautiously assess risks.

The current market situation presents both challenges and opportunities. Investors should rationally view short-term price fluctuations, focus on long-term development trends and fundamental factors, and make wise investment decisions.