Keynote
Ripple’s strategic shift totaling 370m XRP Spark’s speculative two whale transfers jumped 10.45% when trading volume reached $7.3 billion.
XRP
XRP
$2.22
24-hour volatility:
0.8%
Market Cap:
$129.99b
Vol. 24H:
$2.17 b
The market is witnessing new momentum following two massive whale transactions totaling 370 million tokens, along with a surge in XRP ledger on-chain activity.
According to XRPSCAN data, the first week of May saw more than a million chain transactions driven primarily by payment activities.
Meanwhile, XRP has grown by 10.45% over the past 24 hours, trading volumes of digital assets increased by 61.47% to $7.3 billion, and traded at $2.60, suggesting an increase in demand from market participants.
Whale Transfer Signals Strategic Positioning
On May 12th, Blockchain Tracker Whale Alert reported two important XRP forwarding. Initially, XRP 70 million worth of approximately $148.3 million was involved.
The second was a much larger transaction worth around $633.7 million, with a ripple-controlled wallet and sent to another unidentified address.
🚨🚨🚨🚨70,000,000 #xrp (148,344,877 USD) transferred from unknown wallet to unknown wallet https://t.co/gdx2idzxac
– Whale Alert (@whale_alert) May 7, 2025
The origin and intention of these transfers remains unknown, but many of the community believe that Ripple’s internal finance ministry may represent the preparation of rebalancing or major institutional partnerships.
These moves came to hit a daily high of $2.64 each day after XRP immersed in just $2.12. The tokens show impressive resilience despite the large transfers.
Technical indicators draw bullish pictures
According to the chart below, XRP aims to surpass the 0.786 Fibonacci retracement level at its key resistance zone of $2.66.
The next price target based on the Fibonacci expansion is at 1.618 level at around $3.29. This coincides with the previous major high of $2.83, indicating a possible retest or breakout if momentum is maintained.
XRP Daily Chart with RSI, MACD and FIB Levels | Source: TradingView
The MACD indicator shows that the MACD line is crossing above the signal line, both facing upwards, indicating bullish momentum. Histograms are also actively increasing, enhancing the ongoing narrative of trends.
Meanwhile, the RSI is approaching an excess zone currently sitting near 69.4. This indicates strong purchase pressure, but caution is required as if it exceeds 70 without modifications could cause the asset to overheat.
Despite volatility, accumulation continues
Further support for bullish emotions is the accumulation/distribution (A/D) lines shown in the chart below.
The A/D line is steadily rising, currently reading 74.2 billion, suggesting that investors continue to accumulate XRP even as prices fluctuate.
This difference between price volatility and accumulation often portends a breakout rally, as it reflects fundamental confidence in the long-term potential of the asset.
XRP A/D Line and BOP | Source: TradingView
The Balance of Power (BOP) indicator is at 0.73 and is deeply present in the positive territory. So buyers are clearly controlling the market.
Historically, this high-read BOP has preceded a sustained price movement, adding weight to the possibility that XRP will challenge the next zone of resistance near $2.83, eventually pushing it to $3.29.
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Disclaimer: Coinspeaker is committed to providing fair and transparent reporting. This article is intended to provide accurate and timely information, but should not be considered financial or investment advice. Market conditions can change quickly, so we recommend that you review your information yourself and consult with an expert before making a decision based on this content.
A crypto journalist with over five years of experience in the industry, Perth has worked with leading media outlets in the Crypto and Finance world, gathering experience and expertise in this field after surviving the bear and bull market for many years. Perth is also the author of four self-published books.
Parth Dubey on LinkedIn
