The XRP market is seeing a surge in large transactions as long-term holders reposition their assets. Over $300 million worth of XRP has been withdrawn from crypto exchanges, hinting at a change in investor outlook. While such withdrawals often point to accumulation, current on-chain data paints a mixed picture, suggesting both opportunity and caution.
According to Glassnode, investors have pulled more than 140 million XRP, valued at around $309 million, from exchanges. At the same time, XRP’s Long-Term Holder Net Unrealized Profit/Loss (LTH NUPL) chart reveals a more complex situation.
The recent withdrawals may indicate a trend of accumulation, with investors buying XRP and transferring it to personal wallets. This could offer a brief break from selling pressure, especially after earlier waves of selling by both long and short-term holders.
Notably, the LTH NUPL indicator has dropped and is nearing the 0.5 mark, a level historically linked to shifts from optimism to market weakness. In past cycles, falling below 0.5 has often led to XRP price corrections as long-term holders cash in profits, and this cycle seems to follow a similar pattern. The decline in LTH NUPL suggests many long-term investors may be entering a distribution phase.
Despite the positive signal from large withdrawals, market sentiment remains cautious, likely due to recent widespread liquidations in the crypto market. On October 10, XRP briefly crashed below $1 but rebounded above $2 within 24 hours after $19 billion was wiped out. Another market downturn on November 3 saw about $1.4 billion liquidated in a single day.
As the market slowly recovers, so does XRP. After falling over 16% in the past month, its price is now up 4.78%, according to CoinMarketCap.
In a separate analysis, crypto analyst ‘Cantonese Cat’ offers a bullish outlook using Fibonacci Extensions to predict XRP’s next moves. On the monthly chart, XRP is testing the 0.886 Fib level near $2.25, a key support that has previously fueled major upward trends.
Cantonese Cat suggests that if this support holds, XRP’s next surge could target the 1.272 Fibonacci Extension around $8.29, a 260% increase from current levels above $2.3. The chart also shows earlier resistance near $3.31, aligning with the 1.0 Fib level. Reclaiming this zone could confirm a bullish structure, with further potential targets at $13.38 (1.414 Fib) and $26.63 (1.618 Fib) if momentum builds.
Frequently Asked Questions
Of course Here is a list of helpful and clear FAQs about the transfer of 300 million in XRP
General Beginner Questions
1 What is XRP
XRP is a digital currency and the native token of the XRP Ledger a blockchain designed for fast and cheap financial transactions especially crossborder payments
2 Who is moving 300 million in XRP
Large transfers are often made by big cryptocurrency exchanges moving funds between their wallets or by large institutional investors and whales
3 How can you track an XRP transaction
You can track it using a block explorer which is like a public search engine for a blockchain For XRP you would use the XRP Ledger Explorer and enter the transaction ID or wallet address
4 Is a transfer this large normal
Yes its not uncommon The XRP Ledger regularly processes large transactions many of which are routine movements between wallets owned by major exchanges for liquidity management
Advanced Technical Questions
5 Where is the 300 million in XRP actually going
To find the exact destination you would need to look up the specific transaction on an XRP Ledger Explorer The answer is public and will show the recipients wallet address From there analysts often try to identify if the address belongs to a known exchange custodian or an unknown whale wallet
6 What is an unknown wallet
An unknown wallet is a public address that has not been definitively linked to a known entity like an exchange or a company It could belong to a private individual an investment fund or a new corporate entity
7 Could this large transfer affect the price of XRP
It can A large transfer to a known exchange wallet can signal a potential selloff which might create downward pressure on the price Conversely a withdrawal from an exchange to a private wallet can be seen as a longterm holding signal which some view as bullish
8 Whats the difference between a wallettowallet transfer and a transaction on an exchange