Significant whale activity has emerged in the XRP market with over 25 million tokens transferred to Coinbase during a sustained six-day price rally. This movement signals heightened trading activity and reinforces bullish sentiment among investors.
Blockchain trackers identified complementary large-scale transactions, including a separate 33 million XRP transfer from Upbit exchange to an unknown wallet. These coordinated movements indicate increased market liquidity and volatility, typically preceding major price developments.
Technical analysis reveals strong support levels bolstering XRP’s uptrend, with the 50-day moving average at $2.23 and the 200-day moving average at $2.36. The convergence of these indicators suggests robust underlying momentum for the cryptocurrency.
Growing retail participation and expanding network adoption are contributing to XRP’s current dynamic phase. Market optimism is further amplified by regulatory developments, as the U.S. Securities and Exchange Commission is actively reviewing an application for an XRP spot exchange-traded Approval could Approval could substantially impact market structure and institutional adoption.