Based

Million

Time

View

<p>XRP, the world’s third-largest cryptocurrency by market capitalization, is continuously making waves following whale interest and its impressive performance. However, recent whale activity appears to be a cause for concern for XRP holders, as crypto whales have reportedly dumped nearly a hundred million dollars worth of XRP tokens onto the Coinbase cryptocurrency exchange.</p>  
<h2 class="wp-block-heading" id="h-xrp-whale-dumps-95-5-million-in-tokens-nbsp"><strong>XRP Whale Dumps $95.5 Million in Tokens&nbsp;</strong></h2>  
<p>On December 13, 2024, the blockchain-based transaction tracker Whale Alert posted on X (formerly Twitter) that 39.43 million XRP tokens worth $95.5 million were transferred from an unknown wallet to Coinbase.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/whale_alert/status/1867276912025804953
 </div>
</figure>  
<p>This whale activity indicates a bearish signal, even as sentiment around XRP appears bullish. Additionally, it raises the question of whether this whale knows something about XRP that suggests its price is poised for a decline.</p>  
<h3 class="wp-block-heading" id="h-55-million-of-xrp-outflows-nbsp"><strong>$55 Million of XRP Outflows&nbsp;</strong></h3>  
<p>This transaction seems to refuse the on-chain metrics, which currently appear bullish. According to the on-chain analytics firm <a href="https://www.coinglass.com/currencies/XRP" target="_blank" rel="noopener noreferrer nofollow">Coinglass</a>, XRP's spot inflow/outflow data reveals that exchanges are continuously witnessing significant outflows. This indicates a potential upside rally and further hints at ideal buying opportunities.</p>  
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/12/13010755/image-92.png" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2024/12/13010755/image-92-1024x300.png" alt="" class="wp-image-392495"></a>
 <figcaption class="wp-element-caption">
  Source: Coinglass
 </figcaption>
</figure>  
<p>Based on the data, exchanges have witnessed a significant $55 million XRP outflow in the past 48 hours, suggesting strong interest and confidence from long-term holders.</p>  
<h2 class="wp-block-heading" id="h-xrp-technical-analysis-and-upcoming-level-nbsp"><strong>XRP Technical Analysis and Upcoming Level&nbsp;</strong></h2>  
<p>According to expert technical analysis, <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" rel="noopener noreferrer nofollow">XRP</a> has been trading in a pattern of lower highs and lower lows since the beginning of December 2024. However, it is currently consolidating near the lower high boundary. This price consolidation suggests that XRP’s bearish trend may soon come to an end, paving the way for a potential bull run.</p>  
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/12/13010640/XRPUSDT_2024-12-13_01-06-30.png" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2024/12/13010640/XRPUSDT_2024-12-13_01-06-30-1024x448.png" alt="XRP Technical Analysis" class="wp-image-392492"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure>  
<p>Based on technical analysis, if XRP breaks out of the consolidation zone and closes a four-hour candle above the $2.50 level, there is a strong possibility it could rise by 15% to reach the $2.90 level in the coming days.</p>  
<p>Conversely, if XRP breaks down from the consolidation zone and closes a four-hour candle below the $2.30 level, it could decline by 15% to reach the $2.00 level in the near future.</p>  
<h3 class="wp-block-heading" id="h-current-price-momentum"><strong>Current Price Momentum</strong></h3>  
<p>Currently, XRP is trading near $2.42 and hasn’t experienced any price changes in the last 24 hours. During the same period, its trading volume dropped by 40%, indicating lower participation from traders and investors amid the recent sharp price decline.</p>

Time to Sell XRP? Crypto Whale Dumps $95.5M on Coinbase

Table of Contents

CoinPedia News

Other articles published on Dec 12, 2024

SEC Seeks Public Input on Bitwise’s New Crypto ETF

Californian Court Orders $5 Million Penalty in IcomTech Ponzi Scheme Case

Dogecoin and Shiba Inu Investors Shift to XYZVerse, Targeting Its Profit Potential

From Crypto to Cash in One Click: Introducing Transak Stream

CryptoBusy Finds Double Bottom on Solana, IntelMarkets Up 610%, SHIB Goes Bullish

Dogecoin vs. PEPE vs. XYZVerse: Which Meme Coin Will Drop the Most Zeros in 2025?

Join our free newsletter for daily crypto updates!