XRP crash to below $2 back in play as over $115 million is moved to Coinbase
XRP traders are on high alert after a sizable amount of the asset was transferred to the cryptocurrency exchange Coinbase. Blockchain tracking platform Whale Alert reported that 50.5 million XRP, valued at approximately $115.4 million, was moved from an unknown wallet to Coinbase on July 8. XRP transfer to Coinbase. Source: Whale Alert Historically, large XRP deposits to centralized exchanges, such as Coinbase, have raised concerns about a potential sell-off, often putting downward pressure on prices. If the sender intends to liquidate the holdings, it could intensify the struggle XRP is facing to hold above the key $2.30 resistance level. However, some analysts caution against reading too much into the transfer. It could be part of internal rebalancing or a strategic liquidity move, rather than a precursor to a market dump. XRP’s bullish play Despite the uncertainty surrounding the transfer, technical indicators remain bullish. In this case, acco...