XRP Surges Despite $60M Whale Move to Coinbase

Ripple’s XRP is gaining traction in the crypto market, with a massive whale transaction of $60 million sending ripples across the community. This significant event hasn’t slowed down XRP’s momentum, as technical patterns and investor activity indicate bullish sentiment remains strong.

At the time of the latest market action, XRP was trading around $2.40, up by 4.4% within the past 24 hours. The coin continues to rebound from its lows of $2.26, marking a weekly gain of 10.2%. With a market capitalization currently at $141.3 billion, XRP holds a prominent position in the digital asset space, even as daily trading volume declined by 22.2%, now at $3.3 billion.

This upward trajectory persists despite decreased volume, highlighting sustained optimism among traders. The token has traded within a narrow range throughout the day, hovering between $2.28 and $2.40, indicating that buyers are maintaining firm control over price action.

$60 Million XRP Whale Transaction Draws Attention

In a development that has fueled conversation among market analysts, Whale Alert reported a large-scale XRP transaction involving 25.49 million tokens—valued at over $60 million—transferred from an anonymous wallet to Coinbase. Large-scale deposits into trading platforms often precede selloffs, leading to speculation of a potential market move.

Still, long-term investor engagement appears unaffected. XRP wallet holders have risen to 6.61 million, reflecting growing trust in the asset’s long-term potential. On-chain data suggests that new wallets are being created, and existing ones are holding rather than liquidating, reinforcing a steady accumulation trend across the board.

In addition, an increasing number of deep-pocketed investors are entering the fray. The number of wallets holding at least 1 million XRP has reached a fresh high of 2,743, underlining rising institutional and whale interest in Ripple’s token.

Technical Signals Indicate Bullish Momentum

Analyst Ali Martinez recently highlighted that XRP has broken out of an inverse head-and-shoulders pattern on the 4-hour price chart—an indicator widely regarded as a bullish signal. The neckline, identified near the $2.31–$2.33 range, has already been surpassed, suggesting potential for a further climb toward the anticipated price target of $2.60.

Supporting this outlook, Fibonacci extension tools point to resistance levels at $2.4560, $2.5259, and $2.6299. For XRP’s breakout to be validated, market watchers emphasize the importance of maintaining price momentum above the neckline, along with consistent trading volume.

However, not all charts paint a smooth path ahead. Market observer CryptoWZRD noted that XRP experienced increased volatility during prior sessions. While temporary pullbacks remain possible, he described the overall trend as favoring continued upside. The next key resistance level, identified at $2.5160, could unlock further trading setups, especially in lower time frame strategies, should it be breached with conviction.

Related: XRP Price: $12M Max Pain for Bears

Altogether, XRP continues to draw attention not only from retail participants but also from whales and analysts tracking its evolving structure. The token’s recent performance and supporting technical indicators position it well for further gains, provided positive momentum is sustained and external market conditions remain favorable.