A substantial transfer of 16.8 million XRP tokens, valued at approximately $53.4 million, has been sent by a major holder (whale) to the Coinbase exchange. This significant movement signals heightened whale activity during a period of price consolidation for XRP.
The cryptocurrency is currently trading within a range between $3 and $3.24, exhibiting mild bullish momentum as indicated by its daily Relative Strength Index (RSI) reading of 61. Market observers highlight that whales have been accumulating significant amounts of XRP recently, scooping up over 130 million tokens during recent price dips.
Analysts point to potential future price trajectories. XRP could break above the $3.66 level to target $4 if bullish momentum holds. Conversely, a drop below the $2.96 support level might trigger a correction toward $2.60. Such large-scale transfers typically influence liquidity and price direction, contributing to increased market volatility.