A recent post from renowned crypto analyst Steph Is Crypto has stirred the XRP community. He announced that a whale closed a significant position worth $5.68 million, sparking speculation about potential changes in XRP's trajectory.
XRP Price Update
As of the report time, XRP is trading at $3.52. The token briefly reached an intraday high of $3.62 and dipped as low as $3.43. This slight daily decline follows a strong rally, with XRP still up more than 20% over the past week and nearly 480% since the start of the year. XRP now commands a market capitalization of over $208 billion, with a 24-hour trading volume exceeding $8.5 billion.
What Does the Whale Exit Mean?
Closing a $5.68 million long position is a significant move, reflecting a deliberate and calculated action. It remains to be seen whether this whale is securing profits after the recent price surge or anticipating a short-term correction. In the cryptocurrency space, such large position changes are often viewed as signals. Some traders believe the whale is simply cashing in gains as XRP approaches a known resistance zone around $3.60–$3.70. Others speculate this move could be related to broader market risks or an impending shift in momentum.
The Bigger Picture: Bullish Foundation Still Strong
Despite this high-profile exit, XRP's fundamentals remain solid. Earlier this year, Ripple achieved a significant legal victory against the SEC, gaining clarity that XRP is not a security in secondary market sales. This outcome has paved the way for XRP to be relisted on U.S. exchanges and opened the door for XRP-based products like ETFs. On the technical side, XRP has broken out of a long-term triangle pattern. Analysts see the potential for continued upward movement with near-term targets ranging from $5.80 to $6.00.
The closure of this massive long position may pose a short-term headwind or reflect a savvy whale resetting for a larger play. Overall, rising institutional interest, strong technical momentum, and renewed regulatory clarity all signal further upside potential for XRP.
