Ripple performed remarkably at the beginning of the year, rising from below $1.90 to $2.41, an increase of nearly 30%. However, this enthusiasm did not last, and a significant correction followed, dropping to around $2.10, a decline of about 13%. On the technical side, a gravestone doji pattern has already appeared, which typically indicates a higher likelihood of a bearish reversal. More notably, on-chain data shows a change—whale transfers peaked at 433 transactions on January 6th, but then rapidly declined to 33 transactions. This sharp contraction often reflects a significant cooling of large investors' participation. Combining the price trend and on-chain activity signals, the short-term rebound momentum appears somewhat weak.