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.

READ MORE:

Best Meme Coins to Buy Now: Shiba Inu, Fartcoin, PENGU

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