XRP Transfers Top $600M as ETFs Near $1B Inflows and Price Holds $2 Support
Ripple moved 75.3 million XRP worth around $152 million to a wallet linked to Binance on December 12th - one of its biggest single...
Quick overview
- Ripple transferred 75.3 million XRP worth approximately $152 million to a Binance-linked wallet, indicating potential cash flow restructuring.
- An additional 90 million XRP transfer was revealed to be an internal eToro transaction, alleviating initial market concerns.
- Over 600 million XRP has been moved recently, contributing to a cautious market atmosphere despite steady demand for XRP spot ETFs.
- XRP is currently trading around $2.03, with key support at $1.9858 and resistance at $2.13, indicating a bearish market setup.
Ripple moved 75.3 million XRP worth around $152 million to a wallet linked to Binance on December 12th – one of its biggest single transfers in a long time. Data on the blockchain showed the cash moved from Ripple’s main wallet into an internal subwallet before ending up on Binance – a pattern that analysts tend to see as a sign that Ripple might be getting ready to do some serious housekeeping in terms of cash flow or restructuring.
This particular transfer wasn’t the only big move on the network. Another 90 million XRP was sent over the network, causing a stir on social media before it turned out to be just an internal transfer for eToro – no big deal. However, it’s part of a much bigger picture: over 600 million XRP have been moved between wallets over the past few days, which is contributing to a cautious mood in the market.
Big XRP money movers this week
- 75.3M XRP (152.98M dollars) was moved to Binance
- 90M XRP (185M dollars) turned out to be an eToro internal transfer – panic over nothing
- Over 600M XRP got shifted around as part of a bigger wallet shuffle
ETF Inflows Spool Up
Despite all the big money going in and out of places like Binance, XRP’s spot ETFs are still drawing in steady demand. SoSoValue says over 16 million dollars flowed in on Thursday alone.
The cumulative total is now just shy of 1 billion dollars, with a lot of that coming from growing adoption of the 21Shares XRP ETF (TOXR). Analysts note that demand for ETFs is starting to provide a counterweight to all the short-term on-chain movements.
Key ETF numbers
- Over 16 million in one day
- Nearly 1 billion in total inflows
- 21Shares TOXR is getting more and more popular
Market Reaction: Thin Trading and Tight Ranges
After that big transfer on December 12, XRP briefly popped 1.7% to $2.04 but went nowhere as trading volume promptly dropped by 30%. Futures open interest dropped to $3.69 billion, though Binance and the CME saw a slight uptick. We’re still seeing super-narrow trading ranges between $1.98 and $2.05, with little clear direction for traders to follow.
XRP Technical Outlook – Price Still Below Trendline
XRP is currently trading at around $2.03, right above the support level at 1.9858. Buyers are defending that level aggressively, with the market looking more like it’s holding on by its fingernails. Price is still firmly below that trendline from mid-November, so for now, we’re still looking at a bearish setup until we see some real buyers come in and push the price up through that $2.13 level
- Support: $1.9858, then $1.92 and $1.8884
- Resistance: $2.13 trendline, then $2.27 (200-EMA) and $2.39
- Indicators: RSI near 45, showing neutral momentum
Indicators are looking neutral – RSI is stuck around 45, and the momentum is muted. A break above $2.13 would be the first real sign of a change in the market’s structure, and a drop below $1.92 might signal that the downtrend continues.
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