$1 Billion XRP Bought This Week, But Bitcoin Is Dragging Price Down

XRP investors are showing strong accumulation, evidenced by the exchange balance dropping to a five-year low, with over $1.25 billion worth of XRP withdrawn from exchanges in the last week. This suggests high confidence in XRP's long-term potential. However, this buying pressure is being negated by the broader market weakness, particularly Bitcoin's volatility. XRP currently has a high correlation (0.82) with Bitcoin, meaning its short-term trajectory is tied to BTC's performance. If Bitcoin continues to correct, XRP risks falling below its $2.35 support level toward $2.13 or $2.00. Conversely, if accumulation translates into sustained buying, XRP could bounce off support to target $2.64.

(Source：BeInCrypto)