XRP Price Dips Below $2.30 as Selling Pressure Mounts

The XRP price experienced a sharp decline this week, falling below the $2.30 mark despite positive developments from Ripple, including institutional partnerships and acquisitions. Over $31 million in XRP positions were liquidated in 24 hours, largely attributed to leveraged traders caught off guard by the recent correction. On-chain data shows a significant sale of XRP tokens by whales over the past five days, signaling potential short-term selling. Meanwhile, Ripple’s expansion continues with the acquisition of Palisade, a company specializing in digital asset custody, aiming to solidify its position in the institutional finance market.