Recent price action for XRP has been dramatic. After trading relatively sideways near $2.10 to $2.20, the coin experienced a significant drop that started around December 1st. This fall is linked to a wave of long positions being liquidated as prices plummeted. Data indicates traders were forced out as prices dropped sharply. 📈 📉 Trading volume and short positions remain relatively unchanged. The key support level at $2.12 is crucial for XRP, and a weekly close above this mark could hold the line against further losses. 🤝. However, the sell pressure around the $2.30 resistance remains strong, as witnessed by liquidity data showing consistent sell orders in that area. 📉 🤔. The number of large XRP wallets also decreased significantly. In the past eight weeks alone, over 569 wallets holding more than 100 million XRP exited the group. This represents a 20.6% reduction in large holders. Conversely, the remaining wallets saw an increase in their holdings, reaching a seven-year high of 48 billion XRP. However, this rise indicates a less volatile market with fewer active players.