CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

Finbold 2025-07-08 11:17:49

XRP crash to below $2 back in play as $115 million moves 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, according to crypto analyst Ali Martinez, XRP has formed an inverse head and shoulders pattern over the past month, an historically reliable signal of a potential trend reversal. The pattern, characterized by three troughs with the middle one (the “head”) being the deepest, suggests a transition from a downtrend to an uptrend. $XRP is breaking out! pic.twitter.com/y5S8LdYgXG — Ali (@ali_charts) July 7, 2025 According to Martinez, a confirmed breakout above the neckline at around $2.33 could validate the reversal and set the stage for a 12% rally, potentially pushing XRP to $2.60. Such a breakout would reinforce bullish sentiment and likely attract more buyers around the asset. XRP price analysis As of press time, XRP was trading at $2.29, up 0.3% in the last 24 hours and 3.95% over the past week. XRP seven-day price chart. Source: Finbold The asset is currently trading above both its 50-day simple moving average ( SMA ) of $2.24 and its 200-day SMA at $1.80, signaling strength in both the short-term and long-term trends. Meanwhile, the 14-day Relative Strength Index ( RSI ) stands at 56.93, indicating steady buying momentum without suggesting the asset is overbought. Featured image from Shutterstock The post XRP crash to below $2 back in play as $115 million moves to Coinbase appeared first on Finbold .

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.