XRP Drops 3.46% Amid $125M SEC Penalty, Whale Accumulation Hits Record Highs

XRPUSDT experienced a 3.46% decline over the past 24 hours, with the current price at 2.1115 according to Binance, down from a 24h open of 2.1872. This price movement follows a period of heightened volatility, driven by significant whale activity, a surge in trading volume, and major legal developments—specifically, Ripple being ordered to pay a $125 million penalty to the SEC, which has contributed to ongoing regulatory uncertainty and likely influenced recent selling pressure. Despite this, on-chain data shows increased accumulation by large holders, a record number of whale wallets, and elevated daily active addresses, signaling continued strong network engagement. Market capitalization stands near $129 billion with a 24-hour trading volume of approximately $2.59 billion, and technical analysts are monitoring support at $2.14 and resistance at $2.29 as the market digests both bullish accumulation trends and the impact of recent legal outcomes.