XRP Price Takes Heat As Whales Shuffle 85M Coins, What’s Next?
Highlights
- XRP whales have taken action to move nearly 85 million coins in the past 24 hours.
- The whale transactions underscore accumulations and dump in hand.
- XRP price trades sluggishly at $0.47.
XRP, one of the top cryptocurrencies by global market cap, has once again sparked a storm of speculations across the broader market. The Ripple-backed crypto’s price noted a significant dip, occurring in tandem with mixed whale transactions recorded over the past day. Notably, on-chain data indicated approximately 85 million coins accumulated and dumped in hand amid XRP’s slip to the $0.47 price level. This has caused a flurry of inferences on the asset’s future market performance.
Whales Transfer 85M Coins ‘to-and-fro’ CEXs
According to data from Whale Alert, 85.26 million XRP has been collectively shuffled between wallets and exchanges in the past 24 hours. These whale transactions include accumulations & dumps in hand.
Data illustrates that 30.82 million XRP, worth 14.87 million, was shifted to Bitstamp by a renowned XRP whale,…Rzn. Subsequently, two other well-known XRP whales bagged 28.21 and 26.23 million tokens, respectively.
It’s worth mentioning that CoinGape Media previously spotlighted the abovementioned whales accumulating XRP as hoarding colossal amounts of the asset in recent days. This adds an optimistic tint to the token’s future price endeavors, underscoring whales’ confidence in the asset.
However, battling buying and selling pressure simultaneously, as with the abovementioned transactions, XRP faces heightened turbulency. Although this slump aligns with the broader crypto market trend, speculations over the implication of whale transfers on the asset also persist.
Also Read: This Crypto Trader Made $1.69 Million With $3,300 In 15 Days; Insider Job?
XRP Price Slips
As of writing, the XRP price fell 2.51% to trade at $0.476. The token’s 24-hour lows and highs were $0.4693 and $0.4868, underlining a highly volatile movement.
However, the derivatives market saw increased investor enthusiasm as XRP’s Futures OI jumped 3.26% to $575.95 million, followed by a derivatives volume upswing of 364.09% to $1 billion. Nonetheless, the price struggled as RSI hovered near 38, underscoring the presence of downside pressure on the asset. This data, collectively, births contrasting sentiments on the asset’s future price performance.
Meanwhile, a recent XRP price analysis by CoinGape Media further shows that crypto market bears may lose control of the Ripple-backed asset, paving the way for a potential pump ahead.
Also Read: Is TON Ecosystem Hacked? Phishing Attacks Surge Risking Price Ahead
- Breaking: Crypto Market Crashes as Trump Imposes 100% Tariff on China
- ASTER Airdrop Delayed to October 20 Amid Criticisms Over Token Allocations
- U.S. Inflation Data: BLS to Release CPI Report on October 24 Amid Government Shutdown
- Bank of America, Citigroup and Goldman Sachs Explore Issuing Stablecoins Pegged to G7 Currencies
- Breaking: Bitcoin Falls After Trump Threatens ‘Massive’ Increase in Tariffs on China
- Can $TAPZI Reach $1 In Q1 2026?
- Here’s Why XRP Price May Have a Zcash-Like Surge
- $TAPZI Price Prediction: What’s Ahead of the $TAPZI token Presale?
- Cardano Price Targets $2 as Hydra 1.0 Ignites New Era of Speed and Adoption
- Dogecoin Price Prediction as $23M Leaves Exchanges—Is the Parabolic Phase Beginning?
- Pi Network Price Collapses as Analyst Proposes Turnaround Tweaks
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
