Recent sales by large XRP holders have raised concerns about the cryptocurrency’s future trajectory. CryptoQuant analyst Maartunn highlights that these activities are similar to prior surges in price, which were followed by significant drops, suggesting a pattern of redistribution among large investors. XRP is currently struggling to break through the $3 mark. Analysis suggests that this pressure on the price stems from the increased sales activity among prominent traders on the XRP Ledger, mirroring trends seen earlier in the year when prices peaked and subsequently corrected sharply. The recent transfer of $69 million worth of XRP from Upbit, South Korea’s leading exchange to an unknown wallet, adds further weight to these concerns. The market uncertainty is amplified by XRP’s inability to surpass the $3 mark. CryptoAppsy data shows a notable decline in price, with XRP falling to as low as $2.89 before trading around $3 at the time of reporting. However, despite this selling pressure on the spot market, the derivative market remains active. The open interest (OI) for XRP futures and options markets has increased by 3.55% in the past 24 hours, reaching a total of $8.11 billion, with significant growth seen in CME-listed contracts, indicating growing investor interest in XRP derivatives. This continued activity presents mixed signals regarding the future direction of the market.