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XRP faces mounting sell pressure as a whale transfers 26.8 million tokens worth $57.7 million to Coinbase, signaling potential market weakness.
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The altcoin has declined from $2.33 to $2.08 over four days, with large holders increasingly offloading their positions amid bearish momentum.
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According to COINOTAG, “The significant exchange inflow and sustained low Taker Buy Sell Ratio underscore a dominant sell-side trend in XRP’s market activity.”
XRP’s recent whale transfer to Coinbase intensifies sell pressure, risking a breach of $2 support and potential slide to $1.90 amid bearish market signals.
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Recent blockchain data reveals that a single XRP whale moved approximately 26.9 million tokens valued at $57.7 million to Coinbase, one of the largest cryptocurrency exchanges. This sizeable transfer is a strong indicator of imminent selling activity, as whales typically deposit tokens to exchanges to liquidate holdings. Over the past month, XRP whales have been the primary drivers of large spot market orders, contributing significantly to price volatility. The Spot Average Order Size metric from CryptoQuant illustrates a consistent pattern of large transactions, which, in this context, align with distribution rather than accumulation.
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