币界网报道：Ripple transferred $438 million worth of XRP on June 18, sparking market panic and concerns about a possible massive sell-off. However, on-chain data shows a complicated situation. XRP price stabilized at around $2.16, in a symmetrical triangle consolidation pattern, suggesting possible volatility in the future. The MVRV ratio remained at 195%, indicating that many holders have large unrealized profits and there is a risk of profit-taking. Despite this, the exchange reserves fell by 3.31%, indicating that the selling pressure has eased, which may be internal allocation rather than selling. The transaction volume of decentralized exchanges (DEX) surged by 770%, indicating that investors are active and prefer non-custodial transactions. The network growth slowed down, and the number of new addresses fell to 807, which may affect the long-term upward momentum. XRP currently has support at $2.08 and resistance at $2.35. A breakout will point to $2.61, and a break below may trigger an adjustment. Overall, Ripple's large transfers have caused concerns, but on-chain data does not show obvious sell signals, and the market still needs to pay attention to subsequent trends.