XRP Whales On the Move: $700M Whale Transfers Spark Buzz

Crypto prices are on the rise, and whales are making big moves. Whale Alert recently flagged a massive XRP transfer that sparked speculation in the XRP community. As per the transaction, 200,000,005 XRP worth $700,609,232 was moved between two unknown wallets.

200M XRP Moved Back to Back

Some users believe that it could be an old whale cashing out after XRP’s latest price surge. However, XRPwallets clarified that the XRP came from a Ripple wallet (active since June 2020) and was sent to a new subwallet. This is the second transfer of the same size in a short period of time, which is raising eyebrows. The community is closely watching to see where the funds go next.

Additionally, 16.8 million XRP, worth about $58.3 million, was moved from an unknown wallet to Coinbase, likely signaling a possible sell-off or liquidity move. Traders often see this as a bearish signal.

Yesterday, over 200 million XRP, worth $687 million, was moved between two unknown wallets. XRPwallets had shared that it was again Ripple moving funds between its wallets. The transfer moved funds from a wallet opened in 2020 to a newly created one. Before this, another big Ripple-linked transfer of 210 million XRP ($738M) was also tracked.

XRP Eyes $5.85 and $9.76 Next

The community is buzzing as whale transfers usually hint that whales are making strategic moves, like taking profits after a price surge, moving funds to prepare for big trades, or bracing for volatility. XRP has been smashing new highs lately. It is currently trading at $3.47, up 0.5% in the last 24 hours. 

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Analyst Dark Defender says that XRP is gearing up for its next big move, targeting $5.85 and $9.76 based on Fibonacci levels. Support levels are holding strong around $3.39 and $3.52, which means it could be ready for another leg up.

XRP Gets Spotlight in Bitwise ETF approval; But Approval On Hold

Recently, the SEC initially approved Bitwise’s plan to convert its Bitwise 10 Crypto Index Fund (BITW) into a spot ETF, which includes XRP alongside BTC, ETH, SOL, and others. This would mark a major step for XRP toward full regulatory recognition. 

However, shortly after, the SEC hit pause on the approval, creating fresh uncertainty around crypto ETF rules. Nevertheless, XRP’s inclusion in top-tier ETFs shows growing institutional interest.

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