XRP experienced a 5% price drop from $0.61 to $0.57 over the weekend.
This decline followed Ripple co-founder Chris Larsen's transfer of 70 million XRP, worth $41 million, from his wallet. This marks Larsen's first significant XRP transfer since 2013.
The movement triggered speculation about a possible liquidation on Binance, adding uncertainty to XRP's near-term performance. Analysts view $0.5575 as a critical support level for the cryptocurrency.