Whale transfers $58 million XRP, raising concerns; coin price remains relatively strong.

According to Gate News bot, monitoring by the blockchain tracking service Whale Alert has detected that over 26.6 million XRP (worth approximately $58 million) were transferred from an unknown wallet to a CEX by a whale. This has raised concerns about a pullback, however, at the same time, the XRP price remains stable, reported at $2.16 at the time of writing.

Typically, when whales send such a large amount of cryptocurrency to major exchanges, the price tends to drop. This is especially true in the context of ongoing signs of a cryptocurrency crash due to the Israel-Iran war.

Traders usually see this as a sign that whales are preparing to sell. However, this time is different. Despite a large influx of funds, the price of XRP remains strong.

The price chart shows that XRP barely reacted to this news. There was no price crash or panicked selling. This surprised many, especially in light of the massive liquidations and price fluctuations the cryptocurrency market faced overall in the past week.

(Image source: CMC)

The stable price of XRP indicates strong demand, sufficient to absorb new supply without significant fluctuations. The cryptocurrency analytics platform Alva commented on this transfer, stating that during periods of decline for other assets, XRP's price has shown "impressive resilience."

On social media, opinions vary widely. Some traders believe that if the "Whale" plans to sell soon, it could be a bearish signal. Others indicate that the market's ability to remain stable may be a bullish signal. Many also point out that the growing optimism surrounding the potential approval of a spot XRP ETF in the U.S., along with recent large-scale corporate purchases, could be the reasons for XRP's strength.

The true reason for the whale transfer remains unclear. However, it tested the strength of the market, and XRP ultimately stood its ground. This development may also indicate that XRP's market behavior is becoming increasingly mature.

XRP has soared above $2, doubling since November 2024. Early investors' returns have now exceeded 300%. This rally has triggered a wave of profit-taking, with daily profit-taking reaching as high as $68.8 million in early June.

Data shared by Glassnode shows that holders who previously bought at lower prices are now selling. The chart spans from January 2023 to June 2025, with key moments including a sharp rise at the end of 2024 and a steady climb in 2025.

(Image source: X)

Source: CoinGape