Peter Smith
XRP continues its hot streak with a sixth straight day of gains while a mysterious whale dumps over $70 million worth of tokens on Coinbase.
XRP is having quite the run lately, and things just got more interesting. A whale just moved a whopping $70 million worth of XRP to Coinbase, and everyone's wondering what's going on. The timing couldn't be more curious - XRP has been on fire for almost a week straight.
XRP Price Momentum Shows No Signs of Slowing
XRP has been absolutely crushing it lately, posting gains for five days running with today looking like it could be day six. The token is sitting at $2.82 right now, up 1.11% in the past 24 hours. It even hit a four-month high of $2.97 on July 11, which has got traders pretty excited.
What's really interesting is that this isn't just about price action. The XRP network saw 6,939 new addresses created in just one day, which shows real people are actually jumping in. Social media buzz around XRP has been picking up too, suggesting retail investors are getting back into the game.
Mystery Whale Drops $70M XRP Bomb on Coinbase
Here's where things get spicy. According to Whale Alert, someone moved 25,498,179 XRP tokens worth $70,224,089 from an unknown wallet straight to Coinbase. That's not pocket change - we're talking serious money here.
The big question everyone's asking: is this whale cashing out or just moving funds around? When you see this kind of transfer to a major exchange, it usually means someone's getting ready to sell. But with XRP pumping like this, it could also be strategic repositioning.
XRP Whales Are Getting Busy
This Coinbase transfer isn't happening in isolation. Just yesterday, Whale Alert spotted another massive move - 33,000,000 XRP worth $90,216,153 went from South Korean exchange Upbit to an unknown wallet. That's a lot of XRP moving around, and it's got people talking.
Veteran trader Peter Brandt thinks XRP is setting up for something big. He's been tweeting that XRP is "congesting on its USD monthly and weekly charts, ready to possibly blast off." After April's fake breakout, Brandt says the chart has formed what he calls a "compound fulcrum" that could push XRP to $4.4.
If XRP can break above that $2.97 resistance level, we might see the next leg up. But if things go south, traders are watching the $2.23 and $2.36 levels where the moving averages sit. The $2 mark is still seen as major support if things really get ugly.
Bottom line: XRP is looking strong, but these whale moves have everyone on edge. Whether this momentum continues or we see some profit-taking will depend on how the market digests these big transfers.
Peter Smith
