Ripple Whales Move 150 Million XRP Amid Bullish Price Action and Market Uncertainty
1min read In recent developments, Ripple whales have transferred a significant amount of 150 million XRP, valued at approximately $380 million, between unknown wallets. This large transaction has sparked considerable speculation and attention from traders and analysts alike. The movement of such a substantial volume of XRP has raised questions about potential price fluctuations and market trends.
Analysts have highlighted bullish indicators in the recent XRP price action. The Ripple token has broken key resistance levels, suggesting that a new phase of price discovery may be underway. This structured breakout, followed by a successful retest of critical support levels, indicates strong buying pressure and historical price trends that support a bullish trajectory.
The intent behind the movement of 150 million XRP remains unclear, but such transactions are often associated with either institutional investors shifting assets or over-the-counter (OTC) trades. If the transfer is linked to an exchange deposit, traders may anticipate a sell-off, leading to short-term bearish pressure. Conversely, if the funds were moved to a private wallet, it could indicate accumulation, potentially supporting price stability.
Notably, in the most recent XRP news, whales have been on a selling spree following a statement that the US will not include Ripple in its digital asset reserve. Over 230 million XRP, worth approximately $575 million, has been sold by large holders in just 48 hours. This selling spree has added to the uncertainty surrounding the market sentiment for XRP.
Technical indicators also remain bullish, suggesting ongoing momentum in the top altcoin price action. The MACD histogram shows a shift from red to green bars, indicating a potential reversal in momentum. The Moving Average Convergence Divergence supports the bullish outlook, as the MACD line is attempting to cross above the signal line, which could signal further upward movement.
However, analysts have also identified a head-and-shoulders pattern, suggesting a potential bearish breakdown. The neckline support at $1.96 is a critical level, and if breached, XRP could decline further toward the $1.13 zone. Conversely, a move above $2.73 could shift momentum, potentially pushing the price toward last year’s high of $3.41.
Increased whale accumulation often coincides with strong price movement, and the recent transfer of 