8th May 2025 – (New York) Major activity by prominent XRP holders, commonly referred to as “whales,” has attracted market attention following two transactions totalling 370 million tokens ($782 million) that were completed within an hour on Wednesday. Blockchain tracking platform Whale Alert reported a transfer of 70 million XRP (equivalent to $148.3 million) between unidentified wallets, followed by a significant transaction of 300 million XRP ($633.7 million) from Ripple to an undisclosed destination. These transactions coincided with the U.S. Federal Reserve’s decision to maintain interest rates, leading to minor declines across the broader cryptocurrency markets.
Despite the market volatility, XRP maintained its position above the crucial $2.10 support level. Data from Santiment indicates a growing confidence among large holders, with wallets containing 1 million to 10 million XRP now controlling 9.44% of the total supply, up from 8.24% in January. Analysts suggest that this accumulation demonstrates strategic positioning rather than a reaction to macroeconomic policies, especially as Fed Chair Jerome Powell dismissed the possibility of immediate rate cuts, potentially affecting the inflow of risk assets.
In parallel developments, Ondo Finance unveiled plans to launch a tokenised U.S. Treasury fund on the XRP Ledger within six months, utilising Ripple’s RLUSD stablecoin for transactions. This initiative aims to offer continuous access to government-backed securities, signalling a shift towards institutional-grade blockchain services. Meanwhile, Ripple announced the discontinuation of its quarterly market reports, ending an eight-year transparency initiative, citing misuse during its legal battle with the U.S. Securities and Exchange Commission (SEC).
Technical analysis reveals that XRP faces immediate resistance at $2.40, with significant hurdles between $2.90 and $3.00. A “death cross” pattern looms as the 50-day moving average approaches the 200-day benchmark, historically indicating a bearish trend. Traders are closely monitoring the $1.50 support zone, a level that has supported XRP’s bullish structure since late 2023. Sustaining a position above this level could signal upward momentum towards $1.70–$1.80, while a breakdown might trigger a retreat to $1.40, challenging the current optimistic outlook.
Leave feedback about this Cancel Reply