XRP has experienced a large-scale whale sell-off over the past month, with a total of 1.18 billion tokens sold, putting downward pressure on the token. Recently, XRP has fallen by 0.8% to $1.90, underperforming the broader market. Meanwhile, spot ETFs have attracted over $1 billion in capital inflows since November, but this incremental capital has not been able to offset the selling pressure from whales. Analysts point out that the rotation effect between mainstream coins and altcoins is also increasing XRP's downward pressure. Large investors loosening their holdings combined with a shift in market risk appetite have formed the current weak market pattern.