XRP price falls to the key support level of $2.35! Whale funds are flowing into CEX, with macro risks dominating short-term trends.

XRP is currently trading around $2.35, after experiencing a sharp weekly decline due to a market shock. Reuters attributes the market pullback to escalating trade tensions between China and the U.S. Analysis platform reports indicate that large fund flows of XRP are pouring into mainstream CEXs, with open contracts having decreased by about half from their peak to $3.88 billion, suggesting that large wallets are either selling or hedging. Although the derivation risk has been reset, macro news remains the main factor for short-term fluctuations. The repair structure for XRP needs to recover the range of $2.60 to $2.77, while $2.00 serves as its recent risk defense line.

Market Pullback and Liquidity Exhaustion: XRP Under Macroeconomic Shock

The price fluctuation of XRP is consistent with the performance of the entire risk asset market, influenced by both macroeconomic politics and regulatory actions.

· Price range and macro pressure

This week, the XRP price fluctuated between $2.30 and $2.60, with traders closely monitoring the defense at $2.00 and the near-term supply recovery at $2.60.

Reuters links the widespread market pullback to the trade tensions arising from U.S. tariff threats against China, while actions by the U.S. Department of Justice and Treasury against the Cambodian cyber fraud network have also increased cautious sentiment in the market.

· The shift of whales towards mainstream CEX

According to Arab Chain data, in the first two weeks of October, the inflow of XRP whale funds into mainstream CEXs has significantly increased.

This development reflects that large wallets have shifted their behavior towards selling or hedging after experiencing a relatively calm period in September.

Derivation Market Reset and Key Price Levels

The impact of market deleveraging is reflected in the resetting of risks in the derivation market and insufficient trading depth.

· The halving of open contracts and liquidity crisis

Coinglass shows that the open interest for XRP has dropped to around 3.88 billion dollars, about half of the previous peak.

Kaiko describes that during the hour of the most severe dumping, the crypto market experienced a liquidity crunch, with the order book depth of major currencies being thin, exacerbating price impacts.

· Key support and resistance levels

2.00 dollars marks the recent risk line. The area between 2.30 dollars and 2.40 dollars is where buyers successfully defended earlier this month.

2.60 USD to 2.77 USD is the upper limit of the local range. A solid close above this range will initiate price structure recovery. A break below 2.00 USD may open the path to 1.90 USD to 2.00 USD.

Follow-up attention: exchange balance and ETF fund inflow

The short-term trend of XRP will be anchored by on-chain data and macro headlines.

· Two Key Indicators

The two metrics investors need to pay attention to are: the exchange's XRP balance (an increase in balance may indicate a new dumping plan, while a decrease limits supply) and the open contracts and funding rate (a healthy rebound should be a gradual reconstruction, rather than a sharp spike in the funding rate).

· Macro and institutional demand

XRP is currently in the defensive range of $2.30 to $2.40.

Macroeconomic news remains a key swing factor, while stablecoin issuance and the increase in net inflows to crypto ETFs will provide stable demand during the risk reconstruction period, thus supporting the repair of the price structure.

Conclusion

XRP is currently at a key price support level under the dominance of macro risk. The flow of whale funds to mainstream CEX indicates an increase in short-term dumping or hedging pressure, while the reset of the derivatives market lays the groundwork for a healthier structural repair. Investors should pay attention to whether $2.60 can be reclaimed to confirm the structural repair, while macro economic headlines and the continued inflow of institutional ETFs will be key factors in determining XRP's next move.

This article is for news information only and does not constitute any investment advice. The encryption market is highly volatile, and investors should make decisions cautiously.