Home NewsAltcoin XRP Whale Dumps $58M as Price Tests Key Support – What’s Next?

XRP Whale Dumps $58M as Price Tests Key Support – What’s Next?

by Ouess

XRP faces mounting selling pressure after failing to break $2.30, with whales moving $58 million worth of tokens to Coinbase. As long-term holders cash in profits, the key question is whether $2.00 support will hold—or if an ETF catalyst could reverse the trend.

Whale Activity Heats Up

  • 26.6M XRP ($58M) transferred to Coinbase
  • Profit-taking intensifies: $68.8M daily realized gains (7-day avg)
  • Price holds at $2.16—still 3× higher than pre-November 2024 levels

Bullish vs. Bearish Signals

Bear Case:

  • Distribution phase underway
  • Long-term holders selling
  • Rejection at $2.30 resistance

Bull Case:

  • 90% odds of XRP ETF approval by 2025 (Polymarket)
  • Analyst Dark Defender spots “Cup Surface” breakout pattern
  • Key targets: $2.22 (short-term), $3.61 (mid-term)

Critical Levels to Watch

  • Support: $2.07 (Fibonacci level) → Break risks drop to $2.00
  • Resistance: $2.30 → Clearing this could fuel rally

With Ripple’s lawsuit nearing conclusion, XRP’s next move hinges on ETF news and whale behavior.

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