XRP is down mainly due to a combination of heavy whale selling, massive liquidations, and broader market shocks like the recent announcement by President Trump of a 100% tariff on Chinese imports. Large holders ("whales") have been offloading approximately $50 million of XRP daily, totaling over $1.5 billion in recent weeks. This flooding of the market increased selling pressure, triggering a cascade of stop-loss liquidations—in one 24-hour period, over $700 million in XRP futures were wiped out. Additionally, the tariff announcement sparked a wider crypto market selloff, adding to XRP's downward momentum. Technically, XRP has faced key support challenges around $2.30-$2.80, with analysts wary of further declines if these levels break. However, the Relative Strength Index (RSI) suggests oversold conditions, hinting at possible short-term rebounds. Despite the crash to as low as $1.53-$1.64, XRP has partially recovered to around $2.35-$2.47 amid increased buying activity from long-term holders. Other macro factors include regulatory uncertainties around Ripple's institutional products and general market volatility influenced by U.S.-China trade tensions. Overall, the drop is driven by a confluence of heavy selling by large holders, a sharply rising tariff war impacting investor sentiment, and resulting liquidations in leveraged futures positions. The path forward depends on whether key support levels hold and if whale selling pressure abates, alongside any positive regulatory or market developments.