Crypto Whale Moves $55 Million in XRP to Ripple — Is a Major Sell-Off Coming?

Jakarta, Pintu News – A whale alert highlighted a large transfer of $55 million worth of XRP to a Ripple-owned wallet, which immediately sparked speculation among the crypto community. This comes at a time when the price of XRP (XRP) has dropped another 2% to below $3, despite the overall positive crypto market sentiment.

Many are wondering, did the whale actually sell or move his XRP to a Ripple-linked wallet amid fears of a price drop?

Big Transfer of XRP to Ripple, Here’s Why

On October 6, Whale Alert reported a transfer of 18,744,800 XRP from an unknown wallet to a wallet linked to Ripple. This large transaction worth approximately $55.86 million raised concerns in the crypto community about the possibility of further liquidation actions.

Read also: Pi Network Price Edges Up as 15 Million Pi Coins Withdrawn — Is Investor Confidence Starting to Waver?

However, these concerns turned out to be untrue. On-chain data shows that the transaction actually took place between Ripple’s internal wallets, i.e. from Ripple(31) to Ripple(1). Interestingly, this was the first transfer from these wallets in over two years.

Follow-up analysis from CoinGape via XRPScan revealed that this transaction was related to the largest cross-chain airdrop ever conducted by the Midnight Foundation, the Midnight Glacier Drop. In that airdrop, the Ripple(31) wallet received nearly 18,744,807 XRP as part of the distribution, which was then moved to Ripple(1).

The pattern is similar to the inflow of 300 million XRP into the same wallet from Ripple (26) on the previous Thursday. Currently, the Ripple (1) wallet holds a record 668,745,081 XRP, including tokens related to Bitstamp and GateHub.

XRP price drops back below $3

XRP price movement is still sluggish due to the lack of support from whales. CryptoQuant’s XRP Whale Flow 30-DMA data shows that the flow of funds from whales is still in the negative zone, signaling increasing distribution pressure on this crypto asset.

Read also: XRP News: $950 Million XRP Offloaded by Investors, Bullish Pattern Fails to Materialize!

In the last 24 hours (October 6), the price of XRP fell by about 2% after a small rebound, and is now trading around $2.98. During this period, the lowest price was recorded at $2.95, while the highest price reached $3.07. Interestingly, trading volume increased by 7% in the last 24 hours, signaling that trader interest is still quite strong.

According to CoinGlass data, buying sentiment was seen in the derivatives market. The total open interest (OI) of XRP futures rose 0.22% to $8.95 billion in the last 24 hours. On the other hand, OI futures on CME fell by 1.55%, while on Binance it rose by 2.66% in the same period.

However, some analysts think that XRP has the potential to experience a breakout from the falling wedge pattern on the daily chart. If this pattern is confirmed, then the price has the opportunity to rise back to $3.33, before continuing the rally towards a new record high (All-Time High) according to the projected height of the pattern. The key support level is currently at $2.80.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Whale Dumps Massive Million XRP Ripple as Coin Falls Below. Accessed on October 7, 2025