$40 Billion Worth Of XRP On The Move – Where Are They Headed?
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Onchain data shows that over $40 billion worth of XRP has been moved over the last week, which puts the altcoin on the edge. Specifically, these coins were transferred to exchanges, which indicates that XRP is at risk of a massive sell-off.
Over $40 Billion XRP Moved To Exchanges
CryptoQuant data shows that over $40 billion has been moved to Binance this past week, with the exchange's reserves surging during this period. This development is usually bearish as it indicates that investors are looking to offload their coins. This comes as the XRP price surged to as high as $2.6, which explains this wave of profit-taking.
Related Reading
Moreover, crypto analyst Ali Martinez revealed that Bitcoin whales have secured profits, selling over 30,000 BTC this week. As such, XRP whales may be simply mirroring this move. Meanwhile, Bitcoinist reported that XRP is reaching oversold levels as net flows turn negative, with the wave of sell-offs heightening.
This selling pressure comes amid Judge Analisa Torres' ruling in the Ripple SEC lawsuit , which provides a setback for XRP. The judge denied the parties' motion for an indicative ruling because the filing was procedurally improper. The ruling also sparked a massive sell-off, with XRP dropping over 4%.
XRP risks losing its bullish setup as Martinez revealed that the key support zone is at $2.38, meaning that a drop below this level could lead to a deeper correction. However, a hold above this level could set the altcoin for a rally to new highs as the analyst revealed that there are no major resistance clusters ahead. Crypto analyst CasiTrades had warned that XRP's failure to hold above the $2.69 resistance could send its price towards $2.30 for a reset.
Altcoin Has Formed A Double Bottom Formation
In an X post, crypto analyst Egrag Crypto revealed that XRP has formed a double bottom following the dip to $2.3126. He stated that the altcoin is still bouncing off the red descending trend line, showing resilience. The analyst added that the altcoin is experiencing some micro noise within the range between the Fibonacci 0.888 levels at $2.30 and $2.62.
Related Reading
His accompanying chart showed that the key is for the XRP price to hold above the trendline at $2.3. A bounce from this level could send the altcoin as high as $3.8, near its current all-time high (ATH) of $3.84. Based on its historical performance, Egrag Crypto still expects the altcoin's price to rally to between $27 and $33 in this market cycle.
Source: Egrag Crypto on X
At the time of writing, the XRP price is trading at around $2.37, down almost 2% in the last 24 hours, according to data from CoinMarketCap.
XRP trading at $0.21 on the 1D chart | Source: XRPUSDT on Tradingview.com
Featured image from Getty Images, chart from Tradingview.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Trump responds after Musk's 'Epstein files' allegations
Trump responds after Musk's 'Epstein files' allegations originally appeared on TheStreet. The Trump–Musk feud has officially gone nuclear. Speaking aboard Air Force One on Friday, President Donald Trump said he has 'no plans' to speak with Elon Musk, after a week of fiery online exchanges that began over Trump's proposed 'big beautiful bill' and quickly spiraled into personal jabs and political threats. Trump didn't mince words when asked if he was still in contact with Musk. 'No, I don't,' he said. 'I hope he does well with Tesla, but we're going to take a look at everything. It's a lot of money.' The president's comments come just days after Musk blasted Trump's sweeping tax and spending proposal, calling it a 'disgusting abomination' and warning it would add $2.4 trillion to the U.S. debt. He also replied 'Exactly' to a post suggesting Trump had retaliated against him personally. Musk later floated the idea of launching a new political party, posting, 'It's time for a new party – one that actually represents the people. Not the far left or far right, but the 80% in the middle!' The falling-out marks a sharp turn from their once-friendly dynamic. Trump had recently appointed Musk to lead the Department of Government Efficiency, a symbolic role that ended with modest results. Bitcoin fell sharply after Trump threatened to cut off Elon Musk's government contracts, intensifying their public feud. The uncertainty rattled markets, leading Tesla shares to drop 14% and dragging crypto sentiment down with them. Investors feared a political crackdown on Musk-linked ventures could spill into broader risk assets like Bitcoin. Trump responds after Musk's 'Epstein files' allegations first appeared on TheStreet on Jun 6, 2025 This story was originally reported by TheStreet on Jun 6, 2025, where it first appeared.
Business Upturn
3 hours ago
- Business Upturn
Mining wealth with AI and clean energy in 2025: RIMining helps you easily start daily crypto income
Los Angeles, California, June 06, 2025 (GLOBE NEWSWIRE) — As clean energy and artificial intelligence reshape global industries, RIMining has ignited a green revolution in crypto mining. From photovoltaic fields bathed in sunlight to remote wind farms with howling winds, renewable energy is driving a new era of smart cloud mining – no noise, no complex equipment, no high electricity bills. RIMining also uses AI scheduling to feed surplus electricity back to the grid, cut costs, practice sustainable development, and redefine the future of energy. Whether you are a novice or an experienced investor, RIMining provides you with a low-threshold, AI-driven way to easily participate in crypto mining, obtain mainstream assets such as Bitcoin and Ethereum, without hardware investment, and enjoy the pleasure of passive income. What is RIMining Founded in 2014 and headquartered in the UK, RIMining is the world's leading cryptocurrency cloud mining platform. It has covered more than 190 countries around the world, with more than 18 million users, 80+ data centers, and more than 16,000,000+ mining machines in operation. The platform has passed the official certification of the UK FCA and has become one of the most trustworthy and influential cloud mining platforms in the world, providing efficient, safe, and low-threshold cryptocurrency mining services to global investors. Why choose RIMining? New member bonus: Register now to get $15 and get extra gifts, sign in every day to get $0.6 High transparency of earnings: Daily earnings data is clearly visible, and the platform provides detailed earnings reports and historical records, allowing users to clearly understand the flow of funds. User-friendly interface: The platform is designed to be intuitive and simple, so even first-time cryptocurrency users can quickly get started and easily manage mining and earnings. Flexible choice of deposit and withdrawal currencies: XRP, BTC, ETH, SOL, USDC, DOGE, LTC, USDT-TRC20, USDT-ERC20, etc. Community support and trust: RIMining has an active user community and a good reputation, which enhances user confidence and allows them to share mining experience. Continuous technology upgrades: The platform continuously optimizes AI algorithms and mining technologies to ensure that users always enjoy industry-leading revenue efficiency. Just operate it easily, RIMining AI will help you earn crypto income every day: Choosing RIMining cloud mining is equivalent to choosing professionalism and stability. The platform is equipped with an intelligent analysis team to monitor the computing power performance in real time and automatically upgrade the mining machine configuration to ensure that users always enjoy efficient computing power and stable income, and comprehensively improve investment security. The following chart illustrates the potential income you can achieve. Join RIMining to start your wealth journey. It takes less than a minute to complete: one-click registration of RIMining account Advanced security measures RIMining uses top security protocols to protect user investments and personal information. EV SSL encryption technology ensures data transmission security and effectively resists network threats; dedicated servers resist DDoS attacks, ensuring uninterrupted service and protecting user assets. Summarize RIMining is reshaping cloud mining with clean energy and AI technology, allowing everyone to easily and safely obtain cryptocurrency income. Join RIMining now and take the first step towards your passive income in a smart and green way. For more information, please visit For business cooperation: [email protected] Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or a trading recommendation. Cryptocurrency mining and staking involve risks and may result in loss of funds. It is strongly recommended that you perform due diligence, including consulting a professional financial advisor, before investing or trading in cryptocurrencies and securities. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Business Upturn
3 hours ago
- Business Upturn
APT Miner uses clean energy cloud mining to earn Bitcoin, XRP and Dogecoin for free
Seattle, WA, June 06, 2025 (GLOBE NEWSWIRE) — The crypto industry is unpredictable. If you want to seize the next bull market opportunity, a high-quality community is essential. In this community, everyone can support each other, advance and retreat together, and maintain a keen insight into the market. However, if you fight alone and lack direction, it is undoubtedly a huge challenge to gain a foothold and persist in this industry. As one of the top five cryptocurrencies in the world by market value, Ripple (XRP) has recently become the focus of the market again. In the past 24 hours, its price has fluctuated dramatically, going against the trend of the overall cryptocurrency market, attracting widespread attention from the cryptocurrency community. In this price storm, a striking phenomenon emerged: a large number of Ripple (XRP) whales flocked to APT Miner. As one of the few trusted leading platforms in the field, APT Miner has quietly established its own brand with its unique cloud mining method. How to mine in the cloud using APT Miner: 1: Register now to get a $15 bonus (earn $0.6 by signing in daily) 2: Choose a contract: After successfully registering, the next step is to choose a mining contract that suits your goals and budget. APT Miner offers a variety of contracts to meet your different needs, whether you are a novice or an experienced miner. Take a close look at the available options and consider factors such as contract length, potential returns, and associated costs. Here are the potential earnings you can earn: 【New User Experience Contract】: Investment amount: US$100, total net profit: US$100 + US$8. 【DOGE(Gold Shell-Mini-DOGE-Pro)】: Investment amount: US$500, total net profit: US$500+US$42. 【BTC(Antminer-S19-XP)】: Investment amount: USD 2,500, total net profit: USD 2,500 + USD 437. 【BTC(Antminer-S19-XP)】: Investment amount: USD 7,500, total net profit: USD 7,500 + USD 3,375. 【BTC(AntminerT21)】: Investment amount: USD 17,000, total net profit: USD 17,000 + USD 9,520. 【BTC/BCH(ANTSPACE HK3)】：Investment amount: USD 50,000, total net profit: USD 50,000 + USD 35,600. More contract details: Visit APT Miner contract page for details: 3: Start to Profit: After selecting and activating the mining contract, you can sit back and relax while the system automatically completes your mining tasks. Working for you. APT Miner's advanced technology ensures that your mining operations run efficiently and maximizes your potential profits. As your mining activity progresses, profits will begin to accumulate in your account. You can track your mining performance through the platform dashboard and withdraw your earnings when you are ready. APT Miner platform advantages: 1: Cutting-edge equipment: Use mining equipment provided by top mining machine manufacturers such as Bitmain, Shenma Mining Machine, and Canaan Creative to ensure the stable operation and efficient production capacity of Bitcoin mining machines. 2: Legality and global users: The platform was legally established in the UK in 2018, protected and issued by the UK government, and has attracted more than 9 million real users around the world with cutting-edge technology. 3: Intuitive Interface: The platform's user-friendly interface ensures that even cryptocurrency newbies can easily get started. 4: Supports settlement of multiple popular cryptocurrencies: such as Dogecoin (DOGE), Bitcoin (BTC), Ethereum (ETH), US Dollar (USDC), US Dollar (USDT), Bitcoin Cash (BCH), Litecoin (LTC), etc. 5: Stable income: The contracts launched by the platform generate income every 24 hours, and the principal will be automatically returned after the contract expires. 6: APTMiner provides 7/24 hours customer service, supports global languages, and communication is barrier-free 7: Affiliate Program: You can refer friends and get a referral bonus of up to $50,000. For more details, please visit the official website: Official email: [email protected] Summarize: APT Miner is a company legally registered in the UK, engaged in network encryption technology services, authorized and regulated by the UK Financial Services Authority, and abides by local laws and regulations. Since its establishment in 2018, it has gained the trust of more than 9 million users. The company's mission is to make cloud mining accessible to everyone, providing the most advanced technology and large industrial data centers, which can be easily accessed from any device at any time and anywhere. Disclaimer: The information provided in this press release is not a solicitation to invest and is not intended as investment advice, financial advice, or trading advice. Cryptocurrency mining and staking involve risks. There is a possibility of loss of funds. You are strongly advised to perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
