460,000,000 XRP Moved in 4 Days: Bull Trap or Breakout?

XRP is trading at around $2.20 after gaining almost 16% over the past week. Over the last 24 hours, the asset has slipped slightly, according to CoinGecko data.

Market participants are now monitoring whether current levels will hold or shift further due to recent activity from large wallet addresses.

Whale Movements Trigger Caution Across Market

Data from Santiment, shared by Ali Martinez, shows a steep drop in holdings among wallets holding 1 million to 10 million XRP. This group of wallets offloaded 460 million tokens over a four-day span. The movement reflects profit-taking after recent gains and a redistribution of tokens into smaller or institutional wallets.

Recent on-chain data also show that whale activity isn’t new. CryptoPotato recently reported that whales moved close to 1.5 billion XRP over the past month, with an additional 180 million dumped earlier this week. The scale of movement may add pressure on smaller holders.

While some whales are offloading, exchange reserves are declining. According to recent data, Binance reserves for XRP have dropped to around 2.7 billion, down sharply since early October. The decrease suggests accumulation by long-term and institutional buyers.

The report also mentioned that recent spot XRP ETF inflows crossed $21 million, aligning with the supply drop on exchanges. These conditions often occur before market volatility returns.

Technical Structure Holds Above $2.00

ChartNerdTA noted that XRP is currently repeating a structure last seen in 2017. Back then, the asset saw a 3-month cool-off before launching higher. The setup now includes a return to the 3-month 20-EMA.

According to the analysis, the structure remains intact as long as XRP stays above $1.20. Currently, $2.00 is acting as the nearest support zone. If that level holds, the next target sits around $2.60—mid-range resistance within recent trading activity.

Short-Term Outlook Remains Mixed

CRYPTOWZRD posted an update on XRP’s recent daily close, calling it “indecisive.” The analyst noted that XRPBTC is under pressure due to Bitcoin’s dominance rising. A move above the $2.2770 resistance could open the door for further gains, with $2.7500 identified as a potential support area.

On lower time frames, traders are looking for a clear breakout structure.

Sideways movement is expected in the short term unless Bitcoin shifts direction during weekly and monthly closes.

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