Recent volatility in the XRP market saw the asset plummet toward its $2.20 support zone. This sharp decline, driven by a selloff and breach of key support levels, has raised concerns about the asset’s future. While Ripple executives remained silent on the events, institutional confidence remains evident through Evernorth’s upcoming IPO, which aims to raise over $1 billion to strategically deploy XRP. 84% increased trading volumes highlight this shift in market dynamics and investor sentiment. The recent selloff has triggered cascading liquidations and increased activity by both institutions and whales. This situation underscores the significance of the $2.20 level as a critical area for future stability.