XRP Slides 2% as $2.1B in Whale Sales and SEC Update Drive Volatility, Trading Volume Surges

XRPUSDT experienced a 2.00% decline over the past 24 hours, with the price moving from a 24h open of 3.0169 to a current level of 2.9567 on Binance. The price change is attributed to a combination of significant whale activity, including a $175 million XRP transfer by Ripple co-founder Chris Larsen and major investors selling over $2.10 billion in XRP, as well as broader market headwinds such as outflows from Bitcoin ETFs and cautious sentiment ahead of the upcoming SEC update on August 15, 2025. Technical factors, including a rebound from the $2.80 support level and mixed analyst forecasts, have contributed to heightened volatility. XRP maintains robust trading volume, with 24-hour figures exceeding $4.7 billion and a market capitalization near $174 billion, as the asset trades in the $2.92–$2.96 range and remains the third-largest cryptocurrency by market cap.