Recently, the XRP market has attracted widespread attention, with large-scale sell-offs leading to significant price fluctuations. Data shows that in the past 10 days, XRP experienced a massive sell-off of about $470 million, with the price falling from a high of $3.65 to around $2.90, a decline of over 20%.

However, James Toledo, the CEO of Unity Wallet, holds a different view. He pointed out that despite the price fall, trading volume has not shown a significant decline, financing rates remain neutral, and retail funds are still accumulating. These signs indicate that the current market may be undergoing a reallocation of funds rather than a panic withdrawal by investors.

At the same time, institutional investors' interest in XRP seems to still be present. CoinShares' latest data shows that last week, XRP-related ETP products attracted $125.9 million in inflows. This phenomenon is particularly noteworthy as it occurs against the backdrop of the U.S. Securities and Exchange Commission (SEC) pausing the approval of related ETFs.

From a technical analysis perspective, analyst Dean Chen believes that XRP may show a range-bound oscillation in the short term. He pointed out that if XRP cannot break through the key resistance level of 3.30 USD, it may test the support level at 2.78 USD. However, Chen also emphasized that as long as XRP can hold the key support level, the long-term trend may still exhibit resilience.

Currently, the market sentiment appears to be cautiously optimistic. Investors and analysts are closely monitoring XRP's performance in the key price range, which may determine its short-term trend. Despite facing challenges, this volatility in the XRP market may also bring new opportunities for investors.

It is worth noting that the current cryptocurrency market is in a sensitive period, and investors need to remain vigilant, paying attention to market trends and changes in the regulatory environment. At the same time, the long-term development prospects for XRP still need to be assessed in conjunction with more factors.