XRP Price Slips to $3.40 After Whale Sends $70 Million to Coinbase

TLDR

Table of Contents

XRP whale moved 20.5M tokens worth $70M to Coinbase, raising market concerns.
XRP price dropped to $3.40 after the whale transfer, down 0.34% on the day.
Trading volume fell over 63%, hitting $6.58B, signaling reduced market activity.
71% of traders hold long positions on XRP, with a long/short ratio of 2.51.

A major XRP holder has transferred $70.19 million worth of tokens to Coinbase, raising concerns over a possible market selloff. This large transaction came shortly before XRP’s price slipped to $3.40. The move has sparked debate among traders and analysts about whether the token is preparing for further downside or if bullish momentum can continue.

Large XRP Whale Transfer Raises Concerns After Price Drop

Blockchain monitoring service Whale Alert reported the movement of 20.5 million XRP to Coinbase on July 19, 2025. This transfer was valued at approximately $70.19 million at the time. The wallet address involved had not been previously identified, and there were no official comments from Ripple or its executives.

Soon after the transaction, XRP’s price dropped from its intraday high of $3.47 to around $3.40. This 0.34% decline came with a 63% drop in trading volume, which fell to $6.58 billion. Market watchers observed that such exchange-bound transfers often cause caution among retail traders, especially during periods of low liquidity.

Though there was no immediate confirmation of a sale, the large exchange inflow caused a shift in sentiment. The community began to watch the order books closely for signs of active selling. Historical data shows that large whale movements can lead to short-term volatility, especially when paired with declining volume and stagnant price recovery.

XRP Price Falls as Trading Volume and Activity Decline

Data from Coinalyze showed a drop in XRP’s open interest by 0.63%, now standing at $4.3 billion. Perpetual contract volumes also declined by 0.64%, while futures contracts rose 5.28%. These figures indicate that some traders exited their positions while others opened new ones, possibly expecting increased volatility.

The drop in perpetual contracts, often used for short-term speculation, suggests caution among traders. However, the rise in futures interest shows that some are still positioning for potential gains. Binance and Bybit recorded the highest open interest totals, pointing to strong activity from speculative traders.

The long/short ratio remained positive, with 71% of traders placing long bets. The daily ratio stood at 2.51, which increased to 2.64 in short timeframes like 5-minute and 1-hour charts. This shows that traders expect a bounce, though the presence of caution signals that the market is watching the whale wallet closely.

Analysts Set $4.5 XRP Target as Market Watches Key Support Level

Despite the recent drop, some analysts have pointed to XRP’s ability to hold above $3.40 as a positive sign. Solberg Invest posted a technical chart on X showing that XRP had broken through a long-term resistance line. According to their analysis, this trend could support a rise to $4.50 if the current level holds.

“XRP has approximately 61% growth potential from its current price,” Solberg Invest stated. They added that this target is short to mid-term and depends on sustained support above $3.40. The technical pattern they highlighted is being watched by many traders to determine near-term direction.

The current price level is now seen as a key support zone. Failure to hold it could lead to more downside, especially if large sell orders appear on Coinbase. On the other hand, sustained buying interest at this level may restore confidence and attract new entries from retail and institutional participants.

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