- A whale moved $70M in XRP to Coinbase, triggering fears of a selloff as price dipped and volume collapsed over 60%.
- Despite mixed derivatives signals, long/short ratios show most traders are still betting bullish with strong conviction.
- Analyst targets $4.5 if $3.40 support holds, suggesting XRP could be gearing up for another leg up despite whale-induced jitters.
An XRP whale just shifted a massive $70.19 million worth of tokens over to Coinbase, and yep—you guessed it—everyone’s panicking a bit. These kinds of moves usually smell like a potential dump, especially when they line up with a price dip and a bunch of mixed signals in the market. And that’s… exactly what just happened.
The transfer was picked up by Whale Alert and shared on X (formerly Twitter). Traders were quick to react, fearing a big selloff was brewing. Shortly after, XRP dropped to $3.40, slipping 0.34% on the day. Not a huge drop, but paired with volume tanking 63% to $7.11 billion? Yeah, not great vibes. The market cap’s now sitting around $201.45 billion.
Price-wise, XRP spiked near $3.47 intraday but couldn’t hold—slipped below $3.37, and couldn’t reclaim $3.42. That’s looking like the new resistance for now. Still, no dramatic breakout either way. Just… hovering.
Derivatives Paint a Strange Picture
Coinalyze data threw even more confusion into the mix. XRP open interest dipped 0.63% to $4.3B. Perpetuals dropped 0.64%, but futures? Those actually went up 5.28%. So what gives? Basically, some folks closed out leveraged bets, while others jumped in—maybe betting the whale move sparks a big shift.
Bybit and Binance are carrying most of that open interest weight, with Binance leading the pack. More futures bets usually means folks are gearing up for volatility, whether that’s up or down.
But get this: more than 71% of traders are still long on XRP. The long/short ratio is 2.51, which means there’s over double the long positions compared to shorts. On shorter timeframes like 5 mins and 1 hour, that ratio jumps to 2.64. In short? Despite the whale scare, the crowd still seems to believe XRP’s got more room to run.
Analyst Eyes $4.5 Target—If Bulls Don’t Flinch
Even with the whale noise, not everyone’s feeling bearish. Solberg Invest posted a chart showing XRP retesting its old high and breaking past a stubborn resistance trendline. Right now, it’s holding above $3.40—which is crucial.
If that level holds, Solberg thinks XRP could push to $4.5 soon. That would be a 61% climb from where it’s at now. Pretty ambitious, sure, but not out of the question if this momentum keeps chugging.
So, yeah. Whale transfers usually freak the market out, and this one’s no different. But underneath all the noise? Sentiment still leans bullish. According to CoinGape, some whales are betting on a 480% surge from current levels. That might sound crazy—but in crypto? Anything can happen.
