XRP News: Whale Moves $58M XRP To Coinbase, Is A Selloff Incoming?

According to Whale Alert, a blockchain tracking service, more than 26.6 million XRP (worth about $58 million) was moved to Coinbase from an unknown wallet by a Ripple whale. This raises concerns of profit booking, meanwhile XRP remains stable and is trading at $2.16 at the time of reporting.

XRP Stable Despite Whale Movement 

As per the X post, this type of transfer often raises concerns about possible sell pressure or profit-taking, especially when large amounts enter centralised exchanges. Normally, when a Ripple whale or any other whale send such large amounts of crypto to exchanges like Coinbase, prices tend to drop. This is especially very concerning amid ongoing signs of crypto crash due to Israel Iran war.

Traders often see it as a sign that the whale may be preparing to sell. However, this time was different. XRP’s price held firm despite the big inflow.

The price chart showed that XRP barely reacted to the news. There was no sharp price drop or panic selling. This surprised many, especially because the broader crypto market has been facing heavy liquidations and price swings over the past week.

XRP price stability showed that demand was strong enough to absorb the new supply without major volatility. Alva, a crypto analytics platform, commented on the transfer. They said XRP price showed “impressive resilience” during a time when other assets were falling.

Mixed Reactions as XRP Profit-Taking Rises

On social media, opinions are mixed. Some traders believe this could be a bearish signal if the whale plans to sell soon. Others say the market’s ability to stay stable could be a bullish sign. Many also pointed to growing optimism around a potential spot XRP ETF approval in the US and recent large treasury buys as possible reasons for the strength.

The actual reason behind the Ripple whale transfer remains unknown. But it tested the market’s strength and XRP held its ground. This development could also signal growing maturity in XRP’s market behavior.

XRP has surged above $2, tripling its value since November 2024. Early investors are now seeing gains exceeding 300%. This rally has sparked a wave of profit-taking, with $68.8 million in profits being cashed out daily in early June.

The data, shared by Glassnode, shows how holders who bought at lower prices are now selling. The chart spans from January 2023 to June 2025, with key moments including the sharp rise in late 2024 and the steady climb in 2025.

Source: X (@glassnode)