XRP Price Rises Amid Whale Transfer of $62M to Coinbase

XRP has rebounded from $2.06 to $2.14 in the past 24 hours, gaining 3.49% as bullish momentum builds. The rally comes alongside a surge in trading volume, which jumped 50.45% to $2.43 billion, according to CoinMarketCap. However, this positive trend faces potential headwinds following a massive XRP whale transfer.

Whale Alert reported that 29,532,534 XRP—worth approximately $62.6 million—was moved from an unknown wallet to Coinbase, sparking fears of a possible sell-off. Such large-scale transfers to exchanges often hint at intentions to sell, which could pressure prices if the tokens are offloaded in bulk. Market watchers are closely monitoring the situation, as whale actions frequently influence market sentiment and can introduce volatility.

Despite the concerns, XRP remains up significantly from its 30-day low of $1.69. The recent dip offered an opportunity for investors, including whales, to accumulate at discounted levels. If current buying pressure holds, the market could absorb the 29 million XRP without a sharp correction. The uptick in investor engagement is seen as a key factor in maintaining price stability, even with large holders entering the exchange.

While the $62 million transfer raises bearish speculation, continued market activity and buyer interest may neutralize the downside risk. XRP’s near-term price direction will likely depend on how the market responds to potential sell pressure and whether bullish momentum can sustain the current gains. As of writing, XRP trades at $2.12, with analysts keeping a close eye on Coinbase inflows and overall investor behavior.