On December 11, 2024, XRP whale deposits at exchanges reached a six-month peak, indicating potential short-term bearish pressure. XRP outperformed Bitcoin (BTC), which held steady around $98,000, while major cryptocurrencies like Ethereum (ETH), BNB, and Cardano (ADA) saw declines of up to 2%. Dogecoin (DOGE) fell by 4%, contrasting with a 1% rise in Shiba Inu (SHIB) and Floki (FLOKI).
The U.S. Bureau of Labor Statistics is set to release November's consumer price index (CPI) at 8:30 a.m. ET, which could influence interest rate decisions by the Federal Reserve, impacting the crypto market in 2025. Previous data indicated ongoing inflation concerns.
XRP surged by 7% after Ripple Labs announced it received final regulatory approval to offer the RLUSD stablecoin in the U.S., which will operate on both the XRP Ledger and Ethereum networks. This development could enhance the ecosystem's decentralized finance (DeFi) applications.
Notably, over the past 30 days, more than 2.66 billion XRP tokens were transferred to Binance, marking the highest activity since April 2024. Analyst maartunn highlighted that such large inflows often suggest strategic shifts among significant holders, especially as previous similar movements preceded price drops in November 2023 and April 2024.