XRP Faces Selling Pressure After $130M Worth Sent to Coinbase

XRP’s recent climb toward the $2.50 resistance may be facing headwinds as on-chain activity reveals massive whale transactions directed to Coinbase.

Over a six-day span, two nearly identical transfers—each moving 29.53 million XRP—landed on the exchange, totaling nearly $134 million.

These back-to-back transfers, flagged by Whale Alert, suggest potential liquidation from a major holder capitalizing on XRP’s recent price surge. The first transaction, valued at $64.4 million, occurred on May 3. The second, executed on May 9, was worth $69.5 million, reflecting the token’s short-term appreciation.

Such high-volume deposits to centralized platforms often imply selling intent, particularly when timed alongside market rallies. XRP had recently broken out of a prolonged consolidation phase, reclaiming momentum above the $2.35 level—fueling bullish sentiment.

Analyst Ali Martinez noted a buy signal just as the token broke resistance, hinting at a possible continuation toward the $2.50 mark. But large-scale sell-offs could interrupt that move.

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Despite the looming pressure, XRP’s fundamentals remain mixed. Ripple unlocked 1 billion tokens this month, but whales reportedly scooped up $1.8 billion worth of XRP over the last 30 days. Price stability has so far held, but all eyes are now on potential market reactions as Ripple edges closer to finalizing its settlement with the U.S. SEC.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.