An anonymous whale has moved 26.8 million XRP tokens valued at $57.7 million to cryptocurrency exchange Coinbase, signaling potential selling pressure and market vulnerability. This substantial transfer coincides with XRP testing critical technical support levels following a sustained price decline.
The altcoin’s value dropped from $2.33 to $2.08 over a four-day period as large holders reduced their positions. Market data indicates increased selling activity, with exchange netflows turning positive as more XRP enters trading platforms than exits.
Further confirming bearish momentum, the Taker Buy Sell Ratio has remained below 1.0 for six consecutive days, demonstrating persistent seller dominance. Technical analysts note XRP is currently testing the $2.00 support level, with a decisive breakdown potentially triggering further declines toward $1.90.
These developments highlight mounting pressure on XRP as market participants monitor whale movements and key technical thresholds for directional cues amid the current weakness.