finbold.com
Ripple has executed a massive transaction outside its normal monthly $XRP unlocks, a move likely to cause jitters among investors.
Specifically, the blockchain firm transferred 200 million $XRP, valued at roughly $606 million, to an unknown wallet, according to data shared by Whale Alert on August 18.
The move comes as $XRP briefly slipped below the $3 mark, sparking concerns of short-term selling pressure.
Market watchers are divided on the implications. Some suggest the transfer may be linked to Ripple’s On-Demand Liquidity (ODL) operations or preparations for institutional deals, pointing to a tactical reshuffling of reserves rather than an outright sell-off.
Others, however, fear it could signal an impending wave of selling from Ripple itself, a company long scrutinized for its management of $XRP supply.
The transaction arrives amid heightened sensitivity around whale movements in the crypto market, particularly when tied to Ripple, with speculation swirling about potential exchange-traded funds (ETFs) and broader institutional adoption.
$XRP price analysis
If the tokens are sold, it could trigger a sharp sell-off for $XRP, which is struggling to hold the $3 support zone amid wider cryptocurrency market weakness.
As of press time, $XRP was trading at $3.06, down 0.45% in the last 24 hours and more than 4% lower over the past week.
Technically, $XRP sits in a precarious position, hovering just above its 50-day simple moving average (SMA) of $2.95, which signals short-term bullish momentum.
However, the much lower 200-day SMA at $1.93 underscores that the broader trend remains weaker, leaving the current rally vulnerable unless $XRP can sustain above the 50-day average.
Meanwhile, the 14-day RSI reads 51, a neutral level that suggests neither overbought nor oversold conditions, reflecting balanced market momentum.
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