Ripple Whale’s Massive Transfer Sparks Concerns About XRP Price Drop

A substantial XRP transfer of over 29 million tokens, worth $73 million, to Coinbase has stirred anxieties about a potential price crash. Analysts believe this move could signal the beginning of a sell-off, potentially bringing XRP down towards the critical support level of $2.00 or even lower. While some analysts remain optimistic, highlighting bullish targets of $2.65 in the short term and $10 over the long haul, the sudden influx of liquidity from this large whale raises concerns about price instability in the near future. This transfer coincides with XRP reaching a peak value of $2.64 before slightly dipping to $2.48. This move has led investors to speculate if the sender plans to liquidate their holdings, potentially introducing selling pressure that could harm recent gains.