Whale Moves $70M in XRP to Coinbase as Price Nears Breakout Level

• Whale transfers $70M in XRP sparks market-wide speculation and concern.
• XRP price nears key breakout after sustained bullish momentum continues.
• Analyst spots breakout pattern, eyes $4.4 price target for XRP.

A massive XRP transaction has raised eyebrows across the crypto space after over $70 million worth of the asset was transferred to Coinbase. Whale Alert reported that 25,498,179 XRP, valued at $70,224,089, was sent from an unknown wallet to the exchange in a matter of minutes.

This transaction comes at a critical moment for XRP, which has been trading in the green for five consecutive days. The digital asset is currently testing one of its significant resistance points, having hit a peak of $2.97 on July 11. At the time of writing, XRP dropped 2.04 percent over the past 24 hours, trading at $2.77.

Also Read: Ripple Admits XRP Price Depends on Demand in Leaked Document

To add to the already increased movement, Whale Alert reported another big transfer, amounting to 33,000,000 XRP valued at 90,216,153 USD. The transfer was logged on July 12 and was made via Upbit exchange in South Korea into a wallet whose address is not known.

This spike in activity seems to follow the increasingly growing interest in how XRP is performing in the market. On-chain statistics showed that within 24 hours, more than 6,900 new XRP addresses were created, which indicates an increase in network activity and the participation of the retail audience.

Technical Patterns Point to a Potential XRP Breakout

Analysts have noted a strengthening technical pattern on XRP’s chart. Veteran trader Peter Brandt pointed out a compound fulcrum forming after April’s failed breakout. He suggested that a confirmed move above the $2.97 mark could ignite a new bullish phase, with a possible upside target near $4.4.

Support remains intact at the 50-day and 200-day moving averages, currently standing at $2.23 and $2.36. These levels are closely watched on a pullback, and further support is seen at 2 dollars.

Although it is not clear why the transfer to Coinbase is taking place, the timing has generated some controversy. The action might portend either profit-taking or repositioning, although its market-sentimental content has already manifested itself.

XRP is testing crucial resistance amid rising whale transactions and bullish market signals. Traders are watching closely as price action nears a potential breakout level.

Also Read: SBI CEO Claims XRP Is Key to Massive Wealth Shift as Price Nears $3

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