Whale Moves $55 Million in XRP to Ripple – Internal Transaction or Warning Sign?

The crypto community was stirred after a massive transfer of 18.7 million XRP, worth nearly $56 million, from an unknown wallet to one linked with Ripple. With the token’s price briefly dipping below $3, investors began speculating — was this an internal move, or a whale unloading holdings in fear of a correction?

18.7 Million XRP Transfer Sparks Debate According to Whale Alert, on October 6 a transaction of 18,744,800 XRP was recorded between wallets identified as Ripple (31) and Ripple (1). At first, it seemed like a potential sell-off or redistribution by a large holder. However, further analysis from XRPScan confirmed it was actually an internal transfer connected to the Midnight Glacier Airdrop, the largest cross-chain airdrop ever executed by the Midnight Foundation. Ripple (31) received nearly 18.7 million tokens, which were then sent to the company’s main wallet, Ripple (1) — mirroring a move last week when Ripple (26) transferred 300 million XRP to the same address.

Ripple (1) Now Holds Over 668 Million XRP Updated data shows that Ripple (1) currently holds a staggering 668,745,081 XRP, including tokens linked to Bitstamp and GateHub exchanges. Despite this accumulation, analysts warn that whale inflows remain negative, meaning large holders are still distributing part of their supply. According to CryptoQuant’s Whale Flow 30-DMA, selling pressure from whales continues to weigh on XRP’s price performance.

XRP Dips Below $3, But Trading Volume Climbs Despite a 2% decline over the past 24 hours, market activity remains strong. XRP is currently trading around $2.98, within a daily range of $2.95–$3.07.

Trading volume has jumped by 7%, suggesting traders are buying the dip rather than exiting the market. On the derivatives side, sentiment also appears bullish. Data from CoinGlass shows that open interest in XRP futures rose to $8.95 billion, with Binance alone seeing a 2.66% increase.

Analysts: Bullish Pattern Still Intact Daily charts show that XRP is forming a falling wedge pattern, typically considered a bullish continuation setup.

Analysts believe that a confirmed breakout above $3.05 could push prices toward $3.33, with key support at $2.80. If bulls manage to maintain momentum, a new all-time high (ATH) could follow in the coming weeks.

Conclusion: Sell-off or Strategic Transfer? While the initial transaction caused alarm, deeper analysis reveals it was most likely an internal Ripple transfer related to ecosystem token distribution.

With rising trading volume and strong on-chain activity, it seems that investors are accumulating rather than exiting, positioning XRP for another potential rally. The XRP market remains tense — but far from done.

#Ripple , #xrp , #CryptoWhale , #Altcoin , #cryptotrading

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