The post XRP News Today: Whale Sell-Off Hits $1B Following Ripple’s Massive Unlock appeared first on Coinpedia Fintech News
Ripple surprised the crypto market today by unlocking another 500 million XRP. This comes just days after it released 500 million XRP on July 1. Usually, Ripple unlocks 1 billion XRP at once at the start of each month, but this time the release was split into two parts.
Ripple Adopts Flexible Approach To XRP Unlocks
It has officially wrapped up its July escrow cycle, unlocking 1 billion XRP in two parts and relocking 700 million. The remaining 300 million XRP is set aside to boost ecosystem expansion, supporting areas like on-demand liquidity (ODL), exchange-traded products (ETPs), and broader infrastructure development.
Ripple is shifting how it handles its XRP reserves. Since March, it has moved away from its old pattern of unlocking and quickly relocking most XRP and has shifted to more flexible movements.
$500M In XRP Moved, Whale Sell-Off Adds Pressure
According to Whale Alert, 225,109,772 XRP, valued at over $500 million, was recently transferred between two unknown wallets. Such massive, unidentified movements often trigger speculation about whale activity or potential behind-the-scenes moves by institutions or major players.
Whales holding between 100 million and 1 billion XRP offloaded over 600 million XRP, worth more than $1 billion, in just 24 hours this week. As a result, their total holdings have dropped to 7.7 billion XRP. This wave of selling by long-term holders signals declining confidence in XRP’s future and could create significant downward pressure on its price.
XRP battles resistance at $2.248
XRP is currently trading at $2.23, down 2.2% in the last 24 hours. Analyst Dexter notes that $2.248 is acting like a magnet for XRP’s price action. He describes it as a “battleground zone,” where bulls and bears are fighting for control. A clear breakout above this level could signal further upside, while a rejection might trigger a pullback. All eyes are on this critical price point for the next big move.
