- Massive $60M XRP whale move stirs breakout anticipation among traders.
- XRP hits $3.10 before pullback, eyes bullish continuation soon.
- Whale shifts XRP to unknown wallet, signaling potential long-term hold.
A major XRP transaction has sparked fresh speculation about a potential price breakout. Blockchain tracker Whale Alert reported a massive withdrawal from South Korea’s leading exchange, Upbit. The transaction involved 20 million XRP, valued at around $60,585,668, and was sent to an unidentified wallet.
The movement has drawn substantial scrutiny from traders and analysts, particularly because large-scale transfers out of exchanges are widely viewed as evidence of accumulation.
Adding to the speculation, the receiving wallet remaining unidentified suggests the XRP is intended for long-term storage rather than immediate trading.
XRP’s price has responded positively to the whale activity, trading at $3.03 at press time with a 0.93 percent gain over the past 24 hours.
Also Read: SEC Just Dropped a Bombshell on Stablecoins-Here’s What You Missed
After surging to an intraday peak of $3.10 and rebounding sharply from Sunday’s low of $2.72, the cryptocurrency now faces short-term resistance at $3.10 owing to a price reversal.
Moreover, the transaction fits into an ongoing trend of whales shifting substantial cryptocurrency holdings off exchanges. Such activity frequently reflects heightened faith in the asset’s long-term prospects and a diminished chance of swift selling pressure.
A widening preference for self-custody among major holders is likewise becoming increasingly apparent across the market.
Whale Activity Triggers Bullish Outlook for XRP Price
The timing of the transaction has fueled theories that a strategic price play could be in motion. With $60 million worth of XRP shifted to a private wallet, some believe a significant price move could follow.
This accumulation usually signals anticipation of forthcoming gains, particularly when underpinned by a technical price rebound. XRP has now reached a pivotal juncture, and if the price manages to maintain momentum above the $3 mark, a breakout past $3.10 could emerge.
Should the rally weaken, the support zone between $2.55 and $2.40—the same range where buyers had previously intervened—could reappear. Market participants are presently paying close attention to wallet flows and pivotal resistance levels.
In the days ahead, the market will likely decide whether this whale action signals a deliberate accumulation for a significant price rally or a defensive move amid prevailing market uncertainty.
Also Read: Pro-Ripple Lawyer Reveals Firms Quietly Adding XRP to Balance Sheets via SEC
