XRP's price is dropping on Binance due to a combination of factors. Firstly, there's been massive profit-taking after November's rally, which has led to a significant sell-off.

Additionally, the bearish sentiment in derivatives markets and broader market liquidations have also contributed to the decline.

To give you a better idea, here are some key points:

1. Profit-taking: Investors are cashing out after XRP's impressive 375% growth over the past month.

2. Bearish sentiment: Derivatives markets are showing strong bearish sentiment, with a negative funding rate of -0.0885%.

3. Market liquidations: Total long liquidations have reached $358 million in the last 24 hours, amplifying the downward pressure.

4. Bitcoin's dominance: Bitcoin's historic surge to $100,000 has redirected market focus and capital flows, leading to a relative decline in demand for altcoins like XRP.

Despite the current decline, XRP's long-term outlook remains bullish, with some analysts predicting a potential rally to $48. $XRP