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XRP fell further to a low of $2.06 on Thursday, as selling pressure persisted even on the broader crypto markets.
The early 2026 rally across the crypto market seems to have cooled off, with various crypto assets sustaining losses. In the last 24 hours, total liquidations across the crypto market rose above $479 million, with longs accounting for $434 million of this figure.
At press time, XRP was trading down 6.43% in the last 24 hours to $2.08, entering its third day of dropping since Jan. 5.
XRP had risen for five days at a stretch at 2026's start in a run that was strong enough to earn the "new crypto darling" label in a CNBC segment.
A sharp surge on Jan. 5 saw the XRP rise from $2.08 to $2.36 in a single daily candlestick. The surge on Jan. 6 saw XRP reach $2.41, a high last reached in mid-November, but bulls could not sustain the momentum as the XRP price fell afterward.
Binance data sparks reversal hopes
According to on-chain data analytics platform CryptoQuant, whale XRP flows have declined, which might signal reduced selling pressure.
Whale XRP Flows to Binance Decline, Signaling Reduced Selling Pressure
— CryptoQuant.com (@cryptoquant_com) January 8, 2026
“Decline in whale flows since mid-December, although still at relatively high levels, is a positive sign in the medium term, as it reduces the likelihood of a sudden sell-off.” – By @ArabxChain pic.twitter.com/P646tKZe1u
A recent CryptoQuant analysis indicated that, based on data on XRP flows to Binance, whales account for nearly 60.3% of total flows, compared to 39.7% for retail investors.
While whales still represent the largest share of flows, the overall trend since mid-December clearly indicates a decline in this percentage after peaking at over 70% in November and early December.
A surge in whale flows to exchanges is often seen as preparation for selling, while a decline suggests a drop in selling pressure from major players.
XRP's surge at the start of the year allowed it to surpass the daily MA 50 at $2.01, which had capped its price since early October; it will now be watched if XRP can convert this level, which was previously resistance, into support to continue its price climb.