Altcoin News

XRP Whale Dumps 56 Mln Coins Amid Price Retracement, What’s Next?

An XRP whale has once again garnered noteworthy attention with its selloffs. Approximately 56M coins were moved to CEXs amid XRP price's turbulent performance.
Published by
XRP Whale Dumps 56 Mln Coins Amid Price Retracement, What’s Next?

Highlights

  • XRP whale continues to dump considerable amounts of XRP coins to exchanges.
  • XRP whale transaction raises investor speculations.
  • XRP price fluctuates although sentiments of a bolstered movement prevail in the market.

Amid recent optimism in the Ripple community due to FIT21, XRP, the cryptocurrency backed by Ripple Labs, has experienced significant price volatility, deviating from typical market trends. This instability has been exacerbated by a well-known XRP whale, who has been offloading large quantities of XRP into centralized exchanges, drawing significant attention from the global crypto community.

Over the past 24 hours, data from an on-chain analytics platform revealed that nearly 56 million XRP were transferred to centralized exchanges (CEXs). This substantial sell-off has raised concerns among investors about XRP’s future performance and stability.

Advertisement

Whale Dump Ignites Investor Anxiety

According to the insights offered by Whale Alert, 56 million XRP was recorded to be offloaded via a couple of transactions by the same whale address. Notably, the address ..Rzn, a renowned XRP whale, transferred XRP to Bitstamp and Bitso.

The first transaction showcased that 30.08 million XRP, worth $15.63 million, was shifted to Bitso. Whereas, the second transaction illustrated that 25.8 million XRP, worth $13.40 million, was transferred to Bitstamp.

Although relatively small, these transfers highlight the presence of selling pressure, a factor that could potentially hinder XRP’s price from experiencing a significant increase. Moreover, Coinglass data spotlighted XRP liquidations worth $4.72 million in the past 24 hours, further adding to the turbulent performance.

Also Read: Shiba Inu’s Shytoshi Kusama Teases SHIB ETF Amid Ethereum ETF Greenlight

Advertisement

XRP Price Fluxes

As of writing, XRP’s price slipped 0.32% in the past 24 hours and is currently trading at $0.5249. The Ripple-backed token’s market cap rested at $29.09 billion. Further, the 24-hour trading volume saw a 102.28% spike, reaching $2.26 billion.

Meanwhile, Coinglass data pointed to a staggering 232.91% increase in the token’s derivatives volume, followed by futures and options OI slip of 5.16%. This data, collectively, paints the presence of mixed market sentiments among investors, potentially driven by speculative trading.

Adding on to the layer of intrigue, the RSI hovered at around 50, signaling that the asset is neither overbought nor oversold. This data further flags an uncertain picture of XRP’s future price movements.

However, its worth mentioning that Coinbase recently initiated XRP trading in New York, adding a slight tine of optimism on the token’s cryptographic venture.

Also Read: ETH Price Struggles to Rally Even After Ethereum ETF Approval, Sell The News Soon?

Advertisement

Share
Coingapestaff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Coinbase CEO Says Market Structure Bill Will Pass by Year-End Despite Government Shutdown

Coinbase CEO Brian Armstrong has said he expects the long-awaited U.S. crypto market structure bill…

October 24, 2025
  • News

Breaking: Trump To Meet China’s President On October 30, Bitcoin Bounces

Bitcoin surged above $111,000 after confirmation that President Donald Trump and Chinese President Xi Jinping…

October 23, 2025
  • News

Breaking: Trump Pardons Binance’s Changpeng “CZ” Zhao, BNB Spikes

U.S. President Donald Trump has reportedly pardoned Binance founder Changpeng "CZ" Zhao for his conviction…

October 23, 2025
  • News

Peter Schiff Challenges Binance Founder CZ to Debate as Bitcoin Vs. Gold Rivalry Heats Up

Bitcoin critic and renowned economist Peter Schiff has challenged Binance co-founder Changpeng "CZ" Zhao to…

October 23, 2025
  • News

Robinhood Lists HYPE As Hyperliquid Flips CZ Backed Aster In Perp DEX Volume

Crypto exchange Robinhood has listed Hyperliquid's native token HYPE for its U.S. clients. This comes…

October 23, 2025
  • News

Expert Warns More Crypto Bloodbath Ahead of CPI Data Tomorrow

The U.S. Bureau of Labor Statistics (BLS) will release the Consumer Price Index (CPI) data…

October 23, 2025