Whale sends $73M XRP to Coinbase – Is a sell-off coming up soon?
2025-07-17 09:21:43
Main Idea
XRP faces potential sell-off risks due to a large whale transfer to Coinbase, overvaluation signals from its NVT ratio, and overbought conditions, despite bullish trader sentiment and approaching a key resistance level.
Key Points
1. A whale transferred 25.5 million XRP (worth $73.6 million) to Coinbase, historically a precursor to short-term price dips.
2. XRP's Network Value to Transactions (NVT) ratio surged 39.47% in 24 hours to 127.95, indicating potential overvaluation and speculative trading.
3. 80.86% of XRP traders on Binance were positioned in longs, with a long/short ratio of 4.22, raising risks of sharp liquidations.
4. The OI-weighted funding rate reached +0.0186%, the highest in months, suggesting unsustainable bullish momentum.
5. XRP was trading near the $3.03 resistance level with an overbought RSI of 80.67, signaling potential for a pullback if momentum weakens.
Description
XRP may be eyeing $3.03 as traders turn bullish, but risks of correction may be growing.
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