Early 2026 saw XRP make a compelling move, surging roughly 30% from below $1.90 to touch $2.41—a notable spike that caught traders' attention. The rally didn't stick though. A sharp pullback followed, wiping out gains as the token settled around $2.10, shedding about 13% from its local peak.

On the technical side, things got interesting. A gravestone doji pattern emerged on the charts, a classic bearish reversal signal that typically warns of potential downside pressure ahead. Whether this materializes remains to be seen, but the pattern is worth monitoring.

What's equally telling is whale behavior. Large holder transfers dropped sharply—from 433 recorded transactions on January 6 down to just 33 recently. This dramatic decline in whale activity could signal either indecision among institutional players or accumulation before the next move.

Put it together: strong upside momentum followed by a reversal signal, weakening whale transfers, and price sitting at a potential inflection point. A pullback seems plausible from here, but watch the volume and on-chain metrics closely.