XRP encountered selling pressure following a rejection at $2.30, with Whale Alert identifying a transfer of 26.6 million XRP ($58 million) to Coinbase.
By Bhushan Akolkar
Editor Julia Sakovich
Updated
2 mins read
XRP XRP $2.15 24h volatility: 0.1% Market cap: $126.89 B Vol. 24h: $1.57 B price has been under some selling pressure recently, after a major rejection at $2.30, accompanied by strong whale dumping. Furthermore, on-chain data shows that long-term holders of XRP have also started liquidating their holdings as the Ripple altcoin enters a strong distribution phase. It will be interesting to see whether XRP drops further to the support of $2.0, or recovers back from here.
Blockchain tracking service Whale Alert reports that over 26.6 million XRP, valued at approximately $58 million, was transferred to Coinbase from an unidentified wallet linked to a Ripple whale. While this move raises speculation about potential profit booking, XRP has remained stable, trading at $2.16 at the time of writing.
Blockchain analytics firm Glassnode reports that XRP has sustained its position above $2, marking a threefold increase from its base price prior to the sharp rally in November 2024. As a result, early investors who accumulated XRP during its lower price phase are now sitting on gains exceeding 300%.
As of early June, profit-taking among these holders has intensified, with realized profits reaching $68.8 million per day, based on the 7-day simple moving average (SMA).
XRP is trading above $2, more than 3x higher than its base price before the sharp rally in November 2024.
Investors who accumulated earlier are sitting on over 300% gains.
In early June, they began realizing profits at a pace of $68.8M per day (7D-SMA), signaling a wave of… pic.twitter.com/N8DLs0EXpQ
— glassnode (@glassnode) June 19, 2025
On the other hand, with the Ripple lawsuit progressing and reaching near its conclusion, the XRP community remains excited with the hope for the approval of a spot XRP ETF. As per the data on Polymarket, the chances of a XRP ETF approval by the year-end have surged to over 90%. Investors are probably awaiting an official announcement from the US SEC for this.
Renowned crypto analyst Dark Defender suggests that XRP is on the verge of a decisive price movement as multiple technical indicators converge.
The cryptocurrency is nearing a critical juncture, with its price positioned at the intersection of trend lines, a Fibonacci level, and the “Cup Surface” pattern. Exponential Moving Averages (EMAs) are tightening, and the trend line is under pressure, signaling a potential breakout.
#XRP is about to remove the Tension soon. The price is close to the conjunction of the trend lines, the Fibonacci level, and the Cup Surface.
Exponential Moving Averages are tight, and the trend line is squeezed.
Targets: $2.22, $3.61 short term.
Supports: $2.0706Cup is… pic.twitter.com/ErpRR5hSXs
— Dark Defender (@DefendDark) June 18, 2025
The analyst added that key short-term targets for XRP are set at $2.22 and $3.61, while support is identified at $2.0706. Dark Defender adds, “The Cup is ‘Hot!’ Get ready for the decision,” hinting at imminent volatility in XRP’s price action.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
