Ripple Whale Activity Surges—Will $273 Million XRP Transfer Shake The Market?
A transaction involving 131 million XRP tokens, valued at approximately $273 million, has unsettled the XRP market. This transfer, executed by an unknown wallet owner, raised concerns about market stability, especially as it followed another significant transfer of $63 million just hours earlier. XRP has struggled to surpass the $2.17 resistance level, trading around $2.06 and experiencing a 4% decline. Despite a recent 14% gain over the past week, the price drop has led to negative trader sentiment. Analysts predict potential declines to support levels below $1.90, with a possibility of reaching $1.55 if selling pressure increases. Market participants remain divided, with some optimistic about future developments like an XRP ETF or partnerships with SWIFT, while others focus on whale movements and resistance levels as key market indicators. The $1.90 to $1.55 support zone is critical for any potential price recovery.
