Kraken’s Mysterious 82M XRP Transfer Sparks Market Speculation as Ripple Tests $3 Support

XRP is currently hovering near the $2.95 threshold as the cryptocurrency market closely monitors a significant transfer of 82 million XRP tokens by Kraken to an undisclosed wallet. This move, initially perceived as whale activity, has ignited speculation about institutional positioning ahead of a potential price breakout. The digital asset has retreated from its July highs between $3.50 and $3.60, with the $2.90-$3.00 zone now emerging as a critical support level. Market participants are keenly observing whether this support will hold, as a confirmed breach could signal further downside. The mysterious transfer by Kraken adds an element of intrigue, with some analysts suggesting it could be a precursor to larger market movements. As of August 3, 2025, XRP's price action remains a focal point for traders and investors alike, with the $3 support level serving as a key determinant of short-term market sentiment.

XRP Price Prediction: Ripple Tests Key $3 Support Amid Kraken's Mysterious 82M XRP Transfer

XRP hovers NEAR the $2.95 threshold as market participants scrutinize Kraken's transfer of 82 million tokens to an undisclosed wallet. The move, initially interpreted as whale activity, fuels speculation about institutional positioning ahead of a potential breakout.

The digital asset has retreated from July highs between $3.50-$3.60, with the $2.90-$3.00 zone emerging as critical support. A confirmed rebound here could propel XRP toward $3.30-$3.50, with $4.00 remaining within reach should market sentiment improve. "The $XRP bounce will be studied," remarked trader AltcoinGordon, underscoring the technical significance of this level.

Despite price consolidation, on-chain metrics suggest cautious Optimism among holders. The transfer coincides with XRP trading at $3.05, down 1.14% over 24 hours according to Brave New Coin's XRP Liquid Index.

Kraken Resumes XRP Trading Amid $15B IPO Preparations

Kraken, one of the world's largest cryptocurrency exchanges, is advancing toward a potential $15 billion initial public offering with a $100 million funding round expected to close by year-end. The move follows improved market conditions and stronger institutional demand, contrasting with its earlier hesitation after Coinbase's volatile post-IPO performance.

Daily trading volume exceeding $1.37 billion across 1,100+ pairs reinforces Kraken's position among top-tier platforms. The IPO preparations have reignited scrutiny over its historical caution around XRP listings during Ripple's SEC litigation—a debate recently amplified by Ripple CTO David Schwartz's social media engagement.