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- $55M XRP transfer was internal between Ripple wallets, not a whale dump.
- XRP price dropped 2% to $2.98 despite higher trading volume.
- Analysts eye $3.33 breakout target if falling wedge pattern confirms.
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A large $55 million XRP transaction sent ripples through the crypto market this week after Whale Alert flagged a massive transfer to a Ripple-linked wallet. The timing of the move—just as XRP slipped below $3 again—fueled speculation that a whale was dumping tokens amid renewed price weakness.
However, on-chain data tells a different story.
Internal Ripple Transfer, Not a Whale Dump
According to data from XRPScan, the 18.7 million XRP transfer originated from Ripple’s own wallets—specifically from Ripple (31) to Ripple (1)—marking the first movement from that address in over two years. The transaction was linked to Ripple’s participation in the Midnight Glacier Drop, a major cross-chain airdrop by the Midnight Foundation.
🚨 🚨 🚨 18,744,800 #XRP (55,868,599 USD) transferred from unknown wallet to #Ripplehttps://t.co/Dgxppxmmqt
— Whale Alert (@whale_alert) October 6, 2025
This transfer follows a similar 300 million XRP inflow from Ripple (26) to Ripple (1) last week, reinforcing that the recent movement was internal. Currently, the Ripple (1) wallet holds over 668 million XRP, including tokens associated with exchanges such as Bitstamp and GateHub.
Traders React as XRP Slips Below $3
Despite the reassurance that no external dumping occurred, XRP’s price remains under pressure. The coin dropped 2% in the last 24 hours to $2.98, with trading volume rising 7%, signaling short-term volatility. CryptoQuant’s data shows that whale flow remains negative, suggesting large holders are still cautious.
Also Read: XRP at $3: Analyst Identifies the Key Trendline That Could Send It to $1
Futures markets, however, tell a more optimistic story. CoinGlass data shows XRP open interest climbed slightly to $8.95 billion, with rising activity on Binance offsetting a small decline on CME. Analysts say a breakout from the current falling wedge pattern could trigger a push toward $3.33, with $2.80 as the key support zone.
Outlook: Patience Before the Next Move
While the $55 million transfer initially spooked investors, the data confirms it was part of internal Ripple movements rather than a market sell-off. As long as whales remain cautious, XRP may continue trading within a tight range. But a decisive technical breakout could shift sentiment and reignite momentum toward new highs.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
