Recent large XRP transactions have attracted the attention of players in the cryptocurrency market. Whales controlling significant amounts of tokens have become active, which may herald large price changes.
Whale Activity Rises Amid Large Transfers
Analyst Xaif reported on two identical transactions, each transferring 153.2 million XRP to the same wallet within 60 seconds. Altogether, 306.4 million XRP was moved, valued at nearly $998.1 million, marking one of the most significant whale activities this month.
Declining Exchange Flows
This event coincides with a broader trend showing a more than 93% drop in whale flows to exchanges since early July. This could indicate a decrease in immediate sell-side pressure and a potential setup for a supply shock if demand continues to rise.
Current Market Analysis
As of the report time, XRP is trading at $3.16, after reaching an intraday high of $3.32. Analysts are monitoring the $3.35–$3.40 resistance zone. A breakout above this range could pave the way to $3.62 and further upside targets of $3.83 and possibly $4.
Given the rise in whale activity, the decline in flows to exchanges, and the focus on resistance levels, the XRP market signals potential significant changes ahead. Investor interest in a possible breakout remains high.
