A massive whale movement captured the crypto sector’s attention following the transfer of 116.6 million XRP, valued at approximately $165.9 million. Data from Whale Alert and expert trackers reveal that this operation was carried out from Kraken sub-wallets to Binance, sparking questions about the intentions behind this large-scale capital shift.
This operation occurs amidst price weakness for XRP, which is struggling to hold the $1.36 zone after dropping 2.83%. Although these types of transfers often precede mass sell-offs, order book analysis suggests this could be a strategic institutional liquidity rebalancing or an OTC trade settlement, rather than an attempt at immediate retail distribution.
The market will be watching to see if these funds turn into net inflows toward exchange hot wallets, which would increase selling pressure. The next critical support level lies in the $1.35 to $1.45 range; a break below this point could expose much deeper technical lows if distrust persists among large holders.
Source:https://x.com/XRPwallets/status/2021494628504203655
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