XRP holders are realizing profits, potentially signaling a short-term bottom but continued bearish structure below $2.50. A Shiba Inu whale moved a substantial amount of SHIB off Binance, which could stabilize the price, though the trend remains downward until $0.000011 is reclaimed.
What to Know:
- XRP holders are realizing profits, potentially signaling a short-term bottom but continued bearish structure below $2.50.
- A Shiba Inu whale moved a substantial amount of SHIB off Binance, which could stabilize the price, though the trend remains downward until $0.000011 is reclaimed.
- An early Bitcoin investor transferred a significant amount of BTC to Kraken, potentially increasing selling pressure.
The crypto market is showing signs of strain as Bitcoin, XRP, and Shiba Inu experience distribution waves. Recent on-chain data reveals notable profit-taking and large transfers that could impact short-term price action. Investors are closely monitoring these movements amidst broader market uncertainty.
Glassnode data indicates that XRP’s profit-taking has surged by 240% while its price has fallen by 25%, suggesting that holders are selling into weakness. This trend mirrors previous distribution peaks before corrections, with XRP now trading near $2.26 and facing compression around $2.20-$2.40. On-chain profit margins are shrinking, signaling exhaustion among long-term holders.
Arkham Intelligence detected a substantial withdrawal of 73.88 billion SHIB tokens from Binance by a Shiba Inu whale. This move to self-custody could tighten exchange liquidity temporarily; however, analysts caution that it doesn’t automatically imply a bullish outlook, as many large holders are opting for self-custody amid regulatory scrutiny. SHIB’s daily chart remains bearish, consolidating under the $0.000010 resistance level.
An early Bitcoin miner, Owen Gunden, moved 3,549 BTC to Kraken, completing an 11,000 BTC offload worth $1.12 billion. Such a large transfer could flood the market with spot supply, potentially triggering further downside pressure near the critical $100,000 support zone. Bitcoin’s price hovers between $101,000 and $102,000, with a potential retest of the recent liquidation low at $99,200.
The crypto market faces potential volatility triggers with the upcoming U.S. CPI data and Fed minutes. While exchange outflows might support stabilization for some altcoins, Bitcoin’s key support at $99,000 must hold to avoid further liquidations. Investors should remain vigilant and monitor these developments closely.
Related: XRP Price: $12M Max Pain for Bears
Source: Original article
Quick Summary
XRP holders are realizing profits, potentially signaling a short-term bottom but continued bearish structure below $2.50. A Shiba Inu whale moved a substantial amount of SHIB off Binance, which could stabilize the price, though the trend remains downward until $0.000011 is reclaimed.
Source
Information sourced from official Ripple publications, institutional research, regulatory documentation and reputable crypto news outlets.
Author
Ripple Van Winkle is a cryptocurrency analyst and founder of XRP Right Now. He has been active in the crypto space for over 8 years and has generated more than 25 million views across YouTube covering XRP daily.
Editorial Note
Opinions are the author's alone and for informational purposes only. This publication does not provide investment advice.
