Large transfers caused a false alarm, and XRP's price remains rock solid!
Last night, a mysterious large player transferred approximately 26.6 million XRP worth $58 million into the Coinbase exchange.
This kind of operation is usually interpreted in the crypto circle as a 'selling signal'—after all, big players moving coins into exchanges are mostly looking to sell off for cash. Coupled with the recent tensions in the Middle East, the entire cryptocurrency market has been declining, but the outcome was unexpected.
One, loud thunder but little rain; surprisingly, the price hasn't dropped!
Typically, such a large-scale transfer would trigger panic selling. Yet, XRP's price remained almost unchanged.
Stabilized around $2.16, with a slight drop of 0.36% in 24 hours.
There was no panic selling; instead, trading volume shrank by 36.57%, indicating that retail investors did not follow suit.
Two, why did this time 'the wolf came' not work?
I think there might be three key reasons behind this.
1. Demand has quietly strengthened.
Since May, the number of new XRP wallet addresses has increased by 15%, indicating that more long-term investors are accumulating during dips. They pay less attention to the short-term actions of big players and focus more on the technical value of XRP's cross-border payments.
2. Institutions are secretly positioning themselves.
Bullish contracts in the futures market have recently surged by 25%, indicating that large funds are clearly betting on a rebound. Especially rumors that the U.S. may approve the XRP spot ETF have led many institutions to position themselves in advance.
3. Early profit-takers have already exited.
In fact, some cashed out as early as the beginning of June—with a single-day sale reaching $68.8 million. Those who should run have already done so; what remains are mostly 'die-hard fans' with a steadier mindset.
Three, will it go up or down in the future? It depends on these two positions.
From a technical perspective, we are currently in a sensitive range.
The defense line is at $2.15: If it drops below, it may test $1.90.
Breakthrough point looks at $2.60: Once stabilized, it may aim to break the $3 mark.
There is a significant divergence in institutional predictions for the end of the year: conservatives see $2.37, while optimists shout $5.50. Such a large divergence indicates intense long-short competition, making fluctuations inevitable.
Fourth, Big D's advice: Don't let big players lead you by the nose.
After this incident, I've actually gained a clearer understanding of XRP's resilience. However, ordinary investors should pay attention to three points.
Don't chase highs in the short term: The movements of big players are hard to predict, and similar transfers may occur frequently.
From a long-term perspective, the core value lies in the implementation of XRP's cross-border payment technology.
Control your positions: Don't let a single cryptocurrency exceed 10% of your total investment to guard against black swans.
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