- Whale Alert reported a 53m XRP transfer to Coinbase, worth $ 118 million, which drives out sales problems.
- A decline under $ 2 can press XRP to $ 1.74, while a breakout over $ 2.26 can trigger a 22% rally.
Ripples (xrp) Has been hit hard in the midst of ongoing market uncertainty and was at a make-or-break point at press time.
The daily chart revealed that Altcoin fell over 7% in a single day and pulled the price down to $ 2.04 support level and brushed against 200-day EMA.
Selling whales XRP holding?
Given the current market structure and the XRP price measures, whales and traders maintain a strong Baisseish vision, which raises questions about whether the XRP price will keep this support or prepare for a crash.
Tracking choice on the chain Flagged A large transaction – 53 million XRP worth about $ 118 million was transferred to Coinbase over the past 24 hours.
So far, this significant transaction from an unknown wallet to Coinbase has not been confirmed as a sale.
However, the timing of these transactions coincides with XRP’s last 7% price dip, which suggests that investors or whales can prepare for sales.
In addition, such transfers are usually linked to whales and can suggest a move while waiting for a potential market crash.
Merchants $ 91 million in Baisse -Tarted bets
In addition, XRP Exchange Liquidation Map from Coinglass reveals concentrated short positions that build up between $ 1.96 and $ 2.26.
At $ 2,268, traders have stacked $ 91.66 million in cumulative short liquidation ceilings, and bet on a breakout.
At the same time, $ 43.60 million will remain short positions active at $ 1,962 – creating a BAiss band that XRP will struggle to overcome unless momentum shifts greatly.
Source: Coinglass
This metric indicates that traders who hold short positions are currently dominating and controlling the market.
Furthermore, because of these significant baisse -like investments, it can be challenging for ALT’s price to break this level, as it now acts as strong resistance.
At press time, XRP acted to $ 2.13, a decrease of 2.65% over the past 24 hours. Interestingly, volume nailed 75%, which reflected increased traders during this consolidation.
XRP price action and key levels
According to Ambcrypto’s analysis, XRP 200-day EMA tests $ 2.08, while sitting just above key horizontal support. Despite a 21% recess, the broader trend is still leaning hike – but the structure is clearly delicate.
Source: Tradingview
If the price is broken under $ 2.00, the next key support is $ 1.74, which means a disadvantage of 13%. On the back, if Bulls recovers speed, a break over the resistance could see XRP increase 22% against $ 2.60.
At the moment, XRP remains between opposite forces: choice of choice and nutritional pessimism on one side and long -term support and potential developments on the other.
