Ripple Whale Moves $355M in XRP to Binance, Sparking Fear of $1.61 Breakdown
A large-scale XRP transaction has rattled the crypto markets. On-chain data from Whale Alert shows 200 million XRP—worth roughly $355.6...
A large-scale XRP transaction has rattled the crypto markets. On-chain data from Whale Alert shows 200 million XRP—worth roughly $355.6 million—was transferred from an unknown wallet to Binance.
The move has raised alarm bells among traders, as such sizeable exchange deposits often precede heavy selling pressure.
The immediate reaction? XRP’s price slipped to $1.61, dragging market sentiment lower and igniting fears that more downside may follow.
But not everyone’s ready to throw in the towel. Despite the short-term panic, the recent approval of Teucrium’s 2X Long Daily XRP ETF on NYSE Arca has injected a spark of optimism into the broader outlook—leaving analysts divided on whether XRP is headed for a deeper correction or prepping for a breakout.
XRP/USD Analysts Split: Bearish Breakdown or Bullish Base?
Crypto analysis is keeping a cautious eye on a developing head-and-shoulders pattern—a classic signal for trend reversals. He warns that if the pattern confirms, XRP could dip toward $1.30 before any chance of recovery.
Adding to the caution, Casi Trades notes that the critical $1.90 support has now flipped into resistance. With the Relative Strength Index (RSI) in oversold territory, the next key level to watch is $1.55—right around the 0.618 Fibonacci retracement, often a pivot point in technical setups.
Key Analyst Takeaways:
$1.90 has become resistance
$1.55 could be the next crucial support
RSI hints at a possible short-term rebound
Long-term targets of $8–$13 still viable if $1.55 holds
Meanwhile, CredibleCrypto is urging patience. He believes XRP is building a base within a demand zone between $1.61 and $1.79—arguing this range may offer a platform for a bullish reversal.
Resistance to Watch: Can XRP Reverse the Trend?
Despite growing uncertainty, some technical signals offer hope. Egrag Crypto, known for spotting trend shifts, points to a possible inverse head-and-shoulders pattern forming within the current price zone. If XRP can reclaim $1.97 and then $2.17, he says the bulls could take charge.
A clean breakout above these levels could open the path to:
$2.72 – An intermediate resistance
$3.70 – A retest of the previous all-time high
But Egrag also warns: if XRP loses its grip on $1.61, the bullish case weakens quickly.
Looking Ahead: History Suggests XRP May Be Coiling for a Bigger Move
Egrag also draws comparisons to XRP’s past boom-bust cycles:
In 2017: XRP dropped 73%, then surged 2,700%
In 2021: It fell 78%, then climbed over 1,000%
His takeaway? Major pullbacks have often preceded massive rallies for XRP. He also points out that the 50-day moving average still hasn’t crossed below the 200-day—a key signal that the long-term uptrend could remain intact.
“You buy the blood—even if it’s your own,” Egrag tweeted, reinforcing the idea that fear-driven dips often mark the best entry points for long-term investors.
Bottom Line
XRP’s immediate outlook hinges on whether it can defend the $1.61 level and reclaim resistance at $1.97. With whale activity, ETF optimism, and technical patterns sending mixed signals, the market’s next move could be pivotal.
Stay tuned—because this tug-of-war between bears and bulls isn’t over yet.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals