On November 30th, XRP fell slightly by 1.1% to close at $2.17, but the story behind it is much more exciting than the price number. A daily trading volume of $3.1 billion is there, and the market capitalization remains stable at the level of $135 billion. The RSI indicator shows 42.5, indicating that the bulls and bears are still pulling against each other. Although the fear and greed index is only at 28, institutional funds are quietly building a position in the opposite direction—this kind of signal often indicates a reversal.

What's even more explosive is the on-chain dynamics. Futures open interest surged by 4% in a single day to reach $4.18 billion. Meanwhile, large holders are crazily withdrawing funds from a leading exchange, resulting in a direct supply reduction of 45%. This operation clearly indicates a long-term bullish trend, with retail investors panic selling while whales are accumulating.

Heavy data has come from the ETF side: XRP spot ETF attracted $644 million in its first month, with a net inflow of $21.81 million on November 29. Bitwise alone contributed $7.46 million, with a total position having surpassed $163 million, pushing the total asset scale to over $676 million, absorbing more than 50 million tokens. This level of accumulation is accelerating the tilt of the supply-demand balance.

The ecological aspect is flourishing in multiple areas. The market capitalization of the RLUSD stablecoin has surpassed $1 billion, and Mastercard is collaborating with Gemini to test a second-level settlement system on XRPL. Santander Bank processes millions of cross-border remittances daily, with funds arriving within 4 minutes. After the integration of the SEPA system, more than 5,000 EU banks are directly connected. The on-chain tokenized national debt RWA scale has reached $362 million, and the native staking feature is about to be launched, while the market is buzzing about a new government possibly promoting the "XRP轨道" integration plan.

The community discussion is on fire. Some analysts pointed out that the exchange reserves have plummeted dramatically, and the whales' hoarding behavior may trigger a "circuit breaker-style rebound"; this post received 29 likes. Another viewpoint mentioned an ETF position of $600 million, with a rebound momentum starting from the $2 range that is exceptionally fierce.

In terms of price prediction, the bulls have set a target of $2.65 for December, and even called for $7 by the end of 2025, with support locked in at $1.80.

Overall, XRP is consolidating and building a bottom in a volatile manner, driven by both ETF funds and ecological applications as dual engines. However, it is important to be cautious of sudden sell-offs by whales and signals from the Federal Reserve's policies. It is recommended to closely watch the resistance level at $2.30, as the potential in the cross-border payment sector is still being unlocked.