XRP Price News: Fades Below $2.60 as $63M Whale Sales Hit Binance
A significant transfer of XRP to the popular cryptocurrency exchange Binance has led to a decline in the price of XRP, with the digital asset trading below $2.60 for the first time in recent weeks.
According to data from CoinDesk, the large transfer, valued at over $63 million, was made on October 13, 2025, and was followed by a sharp increase in selling pressure on XRP. The price of XRP fell by nearly 4% in a matter of hours, with the asset trading as low as $2.55 before recovering slightly.
"We're seeing a classic case of short-term distribution, where a large holder is offloading their XRP onto the market," said Shaurya Malwa, an analyst at CD Analytics. "This can be a sign that the market is becoming saturated with supply, which could lead to further price declines."
Despite the decline in price, institutional buying defended the $2.55 support level, with several large investors stepping in to purchase XRP at discounted prices. This has led some traders to believe that the asset may have found a temporary floor.
"The fact that institutions are still buying XRP at these levels suggests that they believe in the long-term potential of the asset," said Malwa. "However, we need to see more sustained buying pressure before we can say with confidence that the market has bottomed out."
The decline in XRP price comes as the cryptocurrency market continues to experience volatility, with several other assets also experiencing significant price swings. Bitcoin, for example, has been trading in a tight range of $40,000 to $50,000 over the past week.
XRP's price movement is closely watched by traders and investors due to its use case as a payment rail and its potential for widespread adoption. The asset's decline may be seen as a sign that the market is becoming increasingly risk-averse, with investors seeking safer havens such as USDT or BNB.
As of press time, XRP was trading at $2.59, with the 24-hour trading volume reaching over $1 billion. Traders are closely monitoring the asset's price action, with many expecting a potential rebound in the coming days.
Background and Context
XRP has been one of the top-performing cryptocurrencies in recent months, with its price increasing by over 50% since August 2025. However, the asset's price has been volatile, with several sharp declines and recoveries throughout the year.
The large transfer to Binance was made by a single entity, according to data from CoinDesk. The exact identity of the whale is not known, but analysts believe that it may be a large investor or a cryptocurrency exchange looking to offload their XRP holdings.
Additional Perspectives
Some traders are viewing the decline in XRP price as an opportunity to buy into the asset at discounted prices. "We're seeing a classic case of 'buy the dip'," said one trader, who wished to remain anonymous. "I believe that XRP has tremendous potential and I'm buying more at these levels."
Others are more cautious, citing the ongoing volatility in the cryptocurrency market. "I'm not surprised by the decline in XRP price," said another trader. "The market is becoming increasingly unpredictable and I'm taking a wait-and-see approach before making any investment decisions."
Current Status and Next Developments
As of press time, XRP was trading at $2.59, with the 24-hour trading volume reaching over $1 billion. Traders are closely monitoring the asset's price action, with many expecting a potential rebound in the coming days.
The decline in XRP price may be seen as a sign that the market is becoming increasingly risk-averse, with investors seeking safer havens such as USDT or BNB. However, others believe that XRP has tremendous potential and are buying into the asset at discounted prices.
As the cryptocurrency market continues to experience volatility, traders and investors will be closely watching XRP's price action in the coming days.
*Reporting by Coindesk.*
