Over $130 million XRP dumped on Coinbase in a week; Incoming crash?
Summary ⚈ Whales moved over $130M in XRP to Coinbase, hinting at possible selling pressure. ⚈ XRP is holding steady above key levels despite large transfers. ⚈ Traders await reaction to SEC-Ripple settlement filing. XRP’s rally toward the $2.50 resistance level may now be at risk following the dumping of over $130 million worth of the token on the Coinbase cryptocurrency exchange. The first notable transfer occurred on May 3, when a wallet moved 29.53 million XRP, worth approximately $64.4 million, to Coinbase. Just six days later, on May 9, an identical transfer of 29.53 million XRP was recorded, valued at $69.5 million due to the token’s price appreciation during that period, according to on-chain data shared by Whale Alert. XRP transfer to Coinbase on May 9. Source: Whale Alert Combined, these transactions represent 59.06 million XRP, totaling approximately $133.9 million sent to the exchange, presumably with the intent to sell. Motivation for dump...