Ripple has transferred 200 million XRP worth over $600 million to an unknown wallet, fueling speculation about the company’s intentions as the token struggles near $3 support.
According to Whale Alert, Ripple executed the $606 million transfer on August 18, outside its usual monthly XRP unlock schedule.
The move has stirred debate among traders, as large Ripple-linked transactions often trigger concerns about supply pressure.
Some analysts argue the transfer could be tied to Ripple’s On-Demand Liquidity (ODL) operations or institutional settlement activity, suggesting a strategic reserve shift.
Others warn it may foreshadow direct selling, a recurring concern given Ripple’s history of managing vast XRP holdings.
XRP Price at Risk
The transaction comes as XRP briefly dipped below $3 before rebounding slightly. As of press time, the token traded at $3.06, down nearly 0.5% on the day and over 4% on the week.
Technically, XRP is testing critical levels. The token hovers above its 50-day SMA of $2.95, but remains far above its 200-day SMA at $1.93, highlighting vulnerability if short-term momentum fades. The RSI stands at 51, reflecting neutral market conditions.
For now, traders remain split: either Ripple’s move signals institutional demand ahead of potential ETF news — or it risks tipping XRP into another sell-off cycle.
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Source: https://coindoo.com/massive-ripple-transaction-sparks-fears-of-xrp-sell-off/