A massive transfer of 29,532,534 XRP—valued approximately at $64,429,964—from a whale has sparked fear within the Ripple community

A massive transfer of 29,532,534 XRP—valued approximately at $64,429,964—from a whale has sparked fear within the Ripple community

A massive transfer of 29,532,534 XRP—valued approximately at $64,429,964—from a whale has sparked fear within the Ripple community, with most investors aligning this mammoth transfer to a potential upcoming dump in XRP price.

As reported by blockchain analytics firm Santiment, this latest movement comes after a similar transfer of 29.5 million XRP on April 29, 2025, valued at $68.7 million, was flagged as a bearish indicator by some on-chain analysts.

This latest transfer might be adding fuel to the speculation as we saw in the past that large inflows to exchanges like Coinbase usually signal profit-taking or preparation for a large sell-off in the market, often leading to price dips.

With XRP already down from the weekly high of $2.348, as noted by CoinMarketCap, this latest whale movement could exacerbate downward momentum and spread bearish pressure in the market.

At the time of writing, XRP price is trading near $2.18 – declining merely 0.72% in the past 24 hours. Notably, the 24 hour trading volume for XRP has also shrunk 30% today, with it currently sitting at $1.49 billion.

Is XRP’s $2 Crash Imminent?

The whale transfer has intensified fears of a potential price crash for XRP, especially as it struggles to hold above critical support levels.

According to technical analysis, major technical indicators are sending mixed signals. While the MACD shows bullish momentum, the CRSI is nearing overbought territory, which suggests that a correction might be looming.

Moreover, we can observe that trading volume is decreasing while open interest is increasing—a finding that aligns with our earlier analysis. This behavior among traders indicates they are adopting a defensive stance and preparing for increased volatility.

Relying on our technical analysis, we can identify a key support zone at $2, which has been breached. In a worst-case scenario, if this support level breaks, we can expect to see prices fall to $1.80, $1.50, or even $1.20.