XRP whale deposits surge on Binance, market faces correction risk

Recently, $XRP whale deposits on Binance have surged, signaling a potential market pullback. The value of Ripple ($XRP) has doubled, with a market capitalization increase of 33%, but it is still 8% lower than its peak of $194 billion. Bitcoin failed to trigger a "Trump-style rebound", and market sentiment remains cautious. Bitcoin reached a historical high of $109,000 but subsequently dropped by 6.2%. $XRP performed relatively well, only declining by 1.22%. Recently, $XRP has overheated due to significant buying by whales, and the market is at a turning point. $XRP has dropped 11% from its year-to-date high of $3.40, leaving major players at a crossroads. Binance has seen an influx of 270 million $XRP, indicating a potential market rebound or that major players might buy in. Open interest in the futures market has decreased by over 4%, suggesting that the market may be clearing space for new capital inflows. The next few days will be crucial in determining $XRP's trajectory.