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A major transfer of XRP to America’s leading crypto exchange, Coinbase, was recorded today, drawing market attention and sparking speculation that a large holder may be preparing to take profits.
The sudden movement of $120 million worth of XRP onto the exchange has fueled concerns that selling pressure could be building, adding a cautious tone to near-term sentiment.
Is The Whale Selling?
The transaction involved approximately 89,828,700 XRP, worth around $119 million, originating from wallet address “rMWqYat3nJXSLoyqB5tUsfYp6KLgoMHXTN,” according to data from WhaleAlert. The funds were first routed through an intermediary wallet, “rwnYLUsoBQX3ECa1A5bSKLdbPoHKnqf63J,” before being transferred onward to a Coinbase-linked address, “rRmgo6NW1W7GHjC5qEpcpQnq8NE74ZS1P.”
Large-scale whale transfers like this are closely tracked in crypto markets, as they can offer clues about the behavior of deep-pocketed holders. Inflows of this size to centralized exchanges are frequently viewed as a potential sign that investors may be preparing to exit or rebalance positions, since assets moved to platforms like Coinbase become more liquid and easier to trade compared to those held in private wallets.
Nonetheless, the timing and scale of the transfer stand out to traders in the payments-focused XRP market. As is often the case in crypto markets, large wallet movements can shape sentiment and market perception, even when the underlying intent behind them remains unclear.
 
“The Next XRP Bull Market Will Be Huge!”
Meanwhile, popular crypto analyst Martinez noted that Ripple’s XRP is currently forming a massive 9-year ascending triangle on the monthly chart. Since 2017, price action has been consolidating within this long-term structure, consistently printing higher lows while remaining capped below a key upper resistance trendline—suggesting a prolonged compression phase that traders are closely watching for a potential breakout.
Following the August 2025 rejection, attention is now shifting to a key macro support zone between $0.75 and $0.80 for XRP— a level Martinez sees as a prime “buy the dip” opportunity.
With price still compressing inside the huge multi-year triangle, this range could mark the final shakeout before a major breakout. If history is any guide, a move following nearly a decade of consolidation could be explosive—making patience at these levels potentially rewarding.
After retesting the lower ascending trendline near $0.75, Martinez anticipates a strong rebound for XRP, with a projected move toward the triangle’s apex around $3.30. This outlook implies a potential 150% upside from current levels—and an even more striking 340% surge from the macro support zone—highlighting the scale of a possible breakout if strong bullish momentum returns.
After slipping to as low as $1.32 on Sunday, the price of XRP has bounced back to $1.35 as of publication time, according to CoinMarketCap data.