XRP News Today: XRP Whale Activity Spikes as Price Tests $3.40 Resistance

Significant whale activity has recently emerged in the XRP market, challenging the cryptocurrency’s rally at key resistance levels. Blockchain tracking tools have recorded large transfers totaling over 500 million XRP tokens, valued at more than $300 million, moving from cold storage on August 11, signaling heightened market participation and potential short-term volatility [1]. A separate transfer of 16.69 million XRP—worth $53.16 million—was observed moving from an unknown wallet to Coinbase, raising speculation about strategic or institutional positioning [2]. These whale movements coincide with XRP approaching key resistance levels, amplifying market interest and drawing attention from traders and analysts.

The increased activity has sparked concerns about potential sell pressure, with traders noting that large whale transfers often indicate a shift in liquidity and market sentiment. As these tokens flow into major exchanges like Binance and Coinbase, the possibility of increased selling pressure is being closely monitored [3]. The market is now at a critical juncture, with whale transactions serving as indicators of broader market direction amid ongoing discussions about XRP's role in the crypto ecosystem.

Technical analysis highlights the significance of the $3.20 support level, which has held firm and continues to underpin the current rally [3]. A breakout above the $3.40 resistance could open the door for XRP to move toward $3.60–$3.80, levels seen as crucial for confirming bullish momentum [4]. However, XRP’s recent rally to $3.34 failed to sustain upward momentum, reinforcing the strength of resistance at these levels and suggesting that a prolonged consolidation period may be ahead.

Prominent analyst Peter Brandt has suggested the potential for a 60% price increase, projecting a move toward $4.47, primarily driven by whale activity and the development of XRP-based projects like Remittix [1]. On the other hand, bulls remain cautiously optimistic, with some believing that the $25 price target is still within reach if fresh volume and open interest continue to support the upward trend [6]. This optimism is partly fueled by growing interest in XRP’s real-world utility, particularly through platforms such as Remittix, which is gaining traction in cross-border financial services [1].

Market sentiment was further reinforced by a 3% price surge on August 10, driven by high-volume buying that pushed XRP to a high of $3.02 before it closed at $2.98 [7]. While this indicates strong short-term demand, on-chain data and order book analysis suggest that the market is still in the early stages of testing key resistance levels. Sustained momentum beyond $3.40 will be essential to confirm the strength of the rally and validate the potential for further gains.

Ripple executives have remained cautious in their public statements, with CTO David Schwartz emphasizing a focus on building and improving the XRP Ledger rather than providing price predictions [1]. This reflects a broader industry trend of avoiding speculative commentary in the face of unpredictable market conditions.

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[1] AInvest - [https://www.ainvest.com/news/xrp-news-today-xrp-eyes-4-remittix-gains-traction-real-world-utility-2508/](https://www.ainvest.com/news/xrp-news-today-xrp-eyes-4-remittix-gains-traction-real-world-utility-2508/)

[2] Coinpedia - [https://coinpedia.org/news/53m-xrp-whale-transfer-to-coinbase-sparks-market-speculation/](https://coinpedia.org/news/53m-xrp-whale-transfer-to-coinbase-sparks-market-speculation/)

[3] Times - [https://timestabloid.com/heres-what-xrp-order-book-update-says-about-coming-price-rally/](https://timestabloid.com/heres-what-xrp-order-book-update-says-about-coming-price-rally/)

[4] AInvest - [https://www.ainvest.com/news/xrp-news-today-xrp-order-book-signals-potential-rally-3-20-support-holds-firm-2508/](https://www.ainvest.com/news/xrp-news-today-xrp-order-book-signals-potential-rally-3-20-support-holds-firm-2508/)

[6] CoinCentral - [https://coincentral.com/xrps-25-dream-alive-but-remittixs-beta-success-hints-at-even-bolder-75x-trajectory/](https://coincentral.com/xrps-25-dream-alive-but-remittixs-beta-success-hints-at-even-bolder-75x-trajectory/)

[7] Binance - [https://www.binance.com/en/square/news/xrp-news](https://www.binance.com/en/square/news/xrp-news)