Large XRP movement is heightening market tension. At Coinbase, a major US cryptocurrency exchange, 53.34 million XRP moved in just one minute, drawing market attention.
According to Whale Alert, two consecutive transfers of 26.67 million XRP from an unknown wallet to Coinbase occurred. The total transfer amount reaches $117.78 million (approximately 163.7 billion won).
This large-scale movement is raising concerns that it could lead to selling pressure. Analysts suggest that if these volumes are sold in the market, XRP prices could drop below $2.
Currently, XRP is trading at $2.20, down 1.70% in 24 hours. Trading volume has sharply declined by 15.99% to $2 billion in the same period, suggesting investors are taking a cautious approach to XRP.
However, some analysts believe this movement could simply be a portfolio rebalancing. If so, it may not lead to actual sales, and liquidity increase or selling pressure could be limited.
XRP is currently unable to break through the 50-day and 100-day moving averages. Crossing these resistance lines could potentially form a rebound momentum.
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