XRP Targets $3.4 After Whale Moves $605M—Is This the Next Mega Pump?

Whales are stirring the pot again—this time with a jaw-dropping $605 million XRP transfer. Is this the catalyst for a run to $3.4?

Market watchers are buzzing as the sixth-largest cryptocurrency flirts with a breakout. The timing? Suspiciously convenient, as always.

Here’s the breakdown:

The Whale Playbook

One address shifted enough XRP to buy a small island—because why diversify when you can YOLO into a single altcoin?

Price Implications

Historically, whale moves like this precede volatility. Bulls are eyeing $3.4, a level last seen during the 2021 mania. Bears? They’re too busy shorting memecoins to care.

The Cynic’s Corner

Another day, another ‘institutional adoption’ narrative. Funny how these ‘whales’ always show up right before exchanges need liquidity.

Will XRP 10x or get rekt? Place your bets—the casino is open.

• Whale moves $605M XRP, sparking speculation and institutional positioning.
• Regulated XRP futures debut in Europe under the MiFID II framework.
• The asset trades above VWAP, targeting $3.40 amid a derivatives volume surge.

A $600 million XRP transfer from a whale wallet has triggered market attention. The launch of new regulated futures trading in Europe also contributes to the heightened interest. 

Amid a rising demand in the derivatives market, the digital asset trades above the $3.09 price mark. Traders are hoping to see a MOVE up to $3.40, the main resistance level.

Ripple Whale Dumps $605M XRP

A whale transferred 200 million XRP to an anonymous wallet at the time of transfer. The amount is equivalent to over $605 million at the token’s current price. The transfer was flagged by Whale Alert when the cryptocurrency traded at around $3.09. Such transactions usually provoke the speculation of new positioning by institutions or tactical storage.

200,000,000 #XRP (606,241,534 USD) transferred from #Ripple to unknown wallethttps://t.co/7alfB8z3Lh

The deal happened alongside a significant event in the European crypto trading ecosystem. Dutch exchange One Trading said it had initiated regulated XRP/EUR perpetual contracts. Both its Bitcoin and ethereum versions have already accrued almost two billion euros’ worth of positions.

Retail investors in Germany, the Netherlands, and Austria can now trade XRP futures. This trading is facilitated through the Markets in Financial Instruments Directive (MiFID) II regulatory framework. 

The CEO Joshua Barraclough stated that the company will offer regulated access to safer usage than offshore exchanges. It puts the cryptocurrency as one of the few cryptocurrencies listed on regulated European derivatives markets.

XRP Is Above VWAP, Targets At $3.40

XRP is currently trading sideways around the $3.09 level, with a recent peak at approximately the same price. Support for this token is observed at the $3.05 level. The Fibonacci retracement markers identify important regions. 

The $2.97 price zone marks the most robust support level at the moment. Nevertheless, the next critical downside area is at $2.74 in case of a loss in momentum. Conversely, the next resistance for the altcoin is at $3.20. 

From there, it can re-attempt to reclaim its earlier high of this month at $3.40. The digital asset is currently trading above the VWAP at approximately $3.01. This indicates that buyers remain in control of the trading session.

Source: TradingView

XRP Waits for A Breakout

Also, the MACD line is flat but with a positive value of 0.0013, whereas the signal line is close to -0.0298. Traders view the current market conditions as a cooling period for the cryptocurrency. They anticipate that this phase will be followed by a strong price uptrend.

Source: TradingView

XRP Derivatives Volume Rises

CoinGlass data shows that the derivatives volume increased 116% to $9.68 billion. The volume of options increased even more rapidly at 180%, a reflection of more hedging and speculating.

The open interest for options increased by 12.8% to $521.8 million. The future open interest declined by 1.2% to 8.11 billion. This indicates that while some contracts were closed, overall trading activity increased extensively. These derivative data indicate that market participants anticipate a larger increase in price.

Source: Coinglass

However, short-term action depends on whether the token can break the $3.20 resistance. A move above that level could set it up for $3.40, a higher bullish target. If the token fails to turn the $3.09 level into support, it could face a price drop toward the VWAP at $3.01. But strong support is present at the $2.97 level.