XRP Drops Below $2.60 Barrier Amidst Significant Binance Sale

On October 14th, XRP witnessed a decline of around 2-3%, falling below the crucial $2.60 level. This drop coincided with a large transfer of XRP valued at $63 million to Binance, further intensifying selling pressure across the altcoin market. Despite efforts to defend the $2.55-$2.56 range throughout the day, profit-taking concentrated in the $2.65-$2.66 region capped any upward movement. Notably, high trading volumes observed on an hourly basis suggest sustained buying from the bottom, hinting at a potential technical recovery. A regain of price above $2.60 could pave the way for another attempt towards the $2.70 level.