Massive XRP Whale Transfer Sparks Sell-Off Concerns Amid Bullish Surge

Blockchain analytics platform Whale Alert has flagged a major XRP transaction that’s stirring market speculation. On May 9, an anonymous wallet transferred 29,532,534 XRP—valued at approximately $69.5 million—to leading U.S. crypto exchange Coinbase. The timing of the transfer, during an ongoing bull market, has raised concerns among investors about a potential whale sell-off.

The transaction, executed in a single move, suggests intent to offload a large portion of XRP holdings. While the exact motive remains unknown, it aligns with XRP’s recent bullish rally, leading to anxiety within the community about whales taking profits. Such large movements often precede increased volatility and could signal a shift in short-term market sentiment.

Despite the massive transfer, XRP continues to show strength. According to CoinMarketCap, the token has risen 3% in the past 24 hours, following an 8% surge the day before. XRP is currently trading at $2.35, and its 24-hour trading volume has spiked by over 60%, indicating heightened activity from both retail and institutional players.

Investors remain optimistic about XRP’s trajectory, with many eyeing the $3 mark as the next key resistance level. However, the recent whale action has injected caution into the bullish narrative. If further large-scale sell-offs occur, they could increase selling pressure, potentially dampening XRP’s upward momentum.

While the current trend remains positive, the XRP community is closely watching whale behavior. Sustained profit-taking could trigger a cascade of smaller investors selling, leading to a price correction. For now, XRP’s strong fundamentals and market activity continue to support its bullish outlook—unless sentiment shifts due to increasing on-chain sell signals.