Ripple Whale Transfers $305M XRP – Brace for Impact!

In
January
2018,
XRP
hit
an
all-time
high
of
$3.317.
Since
then,
it
has
never
come
close
to
that
price
again.
We
have
been
observing
for
a
long
time
that
the
SEC
vs.
Ripple
case
has
halted
XRP’s
growth.
XRP
has
a
lot
of
community
support,
but
it
just
needs
regulatory
backing
now.
The
legal
case
has
largely
been
in
Ripple’s
favor,
but
it
seems
like
a
price
dump
could
occur
soon.
I
say
this
because
an
XRP
whale
wallet
has
shown
major
movement
recently.

Huge
Ripple
whale
movement

Whale
Alert
highlighted
two
alerts
showing
that
one
XRP
whale
moved
a
total
of
703
million
Ripple
tokens
in
two
transactions
to
two
exchanges.

In
the
first
transaction,
the
whale
sent
337
million
XRP
tokens
worth
$146
million
to
the
Bitstamp
exchange.
Shortly
after,
the
whale
transferred
365
million
XRP
tokens
worth
$158
million
to
the
Bitso
crypto
exchange.
The
total
worth
of
these
transactions
is
$305
million.
The
whale
hasn’t
sold
these
coins
yet,
but
these
transactions
indicate
a
potential
price
dump.

Chart’s
Data

XRP’s
monthly
chart
shows
that
the
price
has
already
fallen
below
the
20
and
50
MAs.
Only
the
100
MA
is
currently
holding
the
price.
If
the
whale
sells
these
tokens,
it
could
cause
significant
market
turbulence,
likely
pushing
the
price
down.
The
nearest
support
level
for
XRP
is
at
$0.169.

On
the
weekly
chart,
the
price
has
dropped
below
all
three
MAs,
which
now
act
as
resistance.
From
November
2022
to
April
2024,
XRP
experienced
an
uptrend,
but
it
has
since
dropped
below
the
trend
line
and
all
moving
averages
(MAs).
The
RSI
is
at
36.70,
indicating
an
oversold
condition.

Despite
XRP
forming
green
candles
in
the
past
two
days,
the
whale
movement
still
poses
a
risk
of
a
price
drop.
Data
from
Defillama
shows
a
significant
drop
in
XRP’s
trading
volume.
The
most
notable
declines
are
on
Bitget
and
Bybit,
both
experiencing
a
62%
drop.

What
to
expect?

It’s
hard
to
say
if
the
whale’s
actions
mean
they
plan
to
sell
or
if
it’s
just
to
scare
the
market.
However,
it’s
commonly
thought
that
whales
move
coins
to
exchanges
to
sell
them.
Soon,
we’ll
see
where
XRP’s
price
is
heading.
The
hourly
chart
looks
positive,
but
other
charts
suggest
a
downward
trend.