- Upbit dumps 40 million XRP, shaking market with surprise sell-off.
- XRP price pressured as one exchange drives aggressive token liquidation.
- Unidentified whales quietly offload XRP, traders eye Upbit’s next move.
A major shift in XRP market activity has drawn attention to unexpected players wielding massive influence over price direction. According to Dom (@traderview2), Upbit recorded a staggering net market sell of more than 40 million XRP within just 24 hours, sparking concerns across the broader trading community.
This development placed the South Korean exchange far ahead of its global counterparts. Platforms such as Binance, Coinbase, Bitstamp, and Kraken reported relatively modest flows during the same period, further highlighting the scale of Upbit’s dominance.
Besides leading the sell-off, Upbit’s activity correlated directly with a steep drop in XRP’s average spot price. This movement was clearly reflected in the cumulative volume delta (CVD) chart, where the exchange’s line plummeted well below all others.
While other exchanges showed a more balanced order flow, Upbit’s CVD dive suggests coordinated selling or concentrated institutional action behind the scenes. Notably, Bybit stood as the only exchange showing a net positive CVD, pointing to a rare contrast in buyer momentum.
Source: @traderview2
Also Read: Bitcoin (BTC) Slips Slightly as Ethereum (ETH), Solana (SOL) Lead Daily Gains
Technical Charts Reveal XRP’s Struggle Below $3 Mark
On the daily chart from Bitstamp, XRP closed at $2.91968 after dipping as low as $2.80378 during the session. The asset failed to reclaim the key $3.00 support, registering a 1.35 percent loss on the day.
Bollinger Bands indicate price compression, with XRP now trading within a tight range. The 20-day SMA sits at $2.94484 while the lower band holds at $2.76705, suggesting cautious trading behavior among participants.
The Relative Strength Index (RSI 14) has made a slight recovery to 51.51 after dipping from its peak of 79.87 seen mid-July. However, momentum remains neutral as buyers and sellers continue to test control without strong conviction.
Source: Tradingview
Market Watches Upbit as Mystery Seller Moves Millions
The scale of XRP outflows from Upbit, combined with the absence of similar volume from other exchanges, raises concerns over who may be behind the sudden selling pressure. With no major headlines or regulatory events linked to this drop, market observers are pointing fingers at quiet, large-scale actors operating within Upbit’s order books.
Price action over the next few sessions will be crucial, as traders monitor whether Upbit continues to drive the trend. Any renewed movement from the exchange could further shape sentiment and direction in the XRP market.
Also Read: Expert Predicts XRP to Reach $1000 and XLM to Hit $100 Amid Global Financial Shift
