XRP is experiencing significant selling pressure as large holders, known as whales, have sold over 90 million tokens in the past 72 hours. The cryptocurrency is currently trading within a descending channel around $2.40. Key market indicators, including increased inflows, a high Network Value to Transactions (NVT) ratio, and declining Open Interest, suggest that XRP may be overvalued and that speculative confidence is decreasing. Exchange data reveals that more than $16.8 million worth of XRP has been transferred to trading platforms, indicating potential liquidation activity. Analysts suggest that a breakout above $2.65 could indicate a bullish trend, while failure to surpass this level may lead to renewed selling pressure.