- A whale just transferred 29.5M XRP (~$62.6M) to Coinbase, sparking fears of a possible sell-off that could shake XRP’s recent price gains.
- Despite the move, XRP is holding steady at $2.12 (+3.49%) with a 50% surge in trading volume, suggesting strong buying interest might cushion the blow.
- Market watchers are closely monitoring the situation—whether the whale sells or not could set the tone for XRP’s short-term direction.
XRP’s been climbing its way back lately, bouncing from $2.06 to $2.14 in the past 24 hours. Not a bad move—but things just got a little more interesting (and a bit shaky) thanks to a major whale transfer that’s sparked some serious speculation.
Whale Alert: 29M XRP Hits Coinbase
According to Whale Alert, a whopping 29,532,534 XRP—roughly $62.6 million worth—was moved from an unknown wallet to Coinbase. Yeah, that’s not pocket change.
This kind of move usually raises eyebrows. When whales start shifting big bags of tokens to exchanges, the assumption is… they’re probably getting ready to sell. And when it’s this much XRP, folks in the community start bracing themselves for turbulence.
If that whale dumps all 29 million XRP on the market? It could definitely rattle things. Sell pressure like that tends to snowball—other traders might start panicking, hitting that “sell” button too. And just like that, yesterday’s gains could vanish in a blink.
So Far, XRP’s Holding Its Ground
Now, despite the potential storm cloud overhead, XRP isn’t rolling over—at least not yet. It’s still trading around $2.12, holding a 3.49% gain on the day.
Also worth noting: trading volume has spiked 50%, hitting $2.43 billion, according to CoinMarketCap. That kind of action could mean there’s still plenty of buying interest—enough maybe to absorb whatever selling comes from the whale move.
Bulls Still Have a Say
Let’s not forget—just a month ago, XRP was down at $1.69. The current price level is a strong bounce from that dip, and buyers have clearly been stepping in. Some whales likely scooped up at those lower levels too, so what we’re seeing now could be profit-taking—or just some rebalancing.
If the market keeps this momentum going, there’s a chance the 29M XRP could get snapped up without much fuss. When demand is strong enough, even big dumps don’t always move the needle much.
Still, traders are watching closely. Whether that whale ends up selling or just repositioning, their next move could have a serious impact on XRP’s short-term path.
For now, all eyes are on Coinbase… and that $62 million bag.
