XRP, the cryptocurrency backed by Ripple, has been the center of attention in the crypto market recently. On-chain data reveals that whales have been actively moving large amounts of XRP, with approximately 85 million coins being shuffled between wallets and exchanges in the past 24 hours.

The whale transactions include both accumulations and dumps, creating a mixed sentiment around the asset's future price performance. One well-known XRP whale, identified as "Rzn," transferred 30.82 million XRP, worth $14.87 million, to the Bitstamp exchange. Additionally, two other prominent XRP whales moved 28.21 million and 26.23 million tokens, respectively.

As a result of these whale activities and the broader market trend, the XRP price has slipped to $0.476, down 2.51% in the past 24 hours. The token's price volatility is evident from the 24-hour low of $0.4693 and high of $0.4868.

Despite the price dip, the derivatives market has seen increased investor interest in XRP. The Futures Open Interest (OI) jumped 3.26% to $575.95 million, while the derivatives volume surged by 364.09% to $1 billion. However, the Relative Strength Index (RSI) hovers near 38, indicating the presence of downside pressure on the asset.

In a previous analysis, CoinGape Media suggested that crypto market bears may lose control of XRP, paving the way for a potential price surge. However, the current mixed whale transactions and price dip have created a cloud of uncertainty around the asset's future performance.