Ripple Shifts Half a Billion XRP ($1.1B) as Traders Eye $2.30 Breakout

Ripple’s latest whale move—500M XRP hitting the ledger—signals either strategic positioning or another ’trust us, we’re decentralized’ moment. Market watches for a $2.30 surge, while skeptics note the irony of a centralized entity moving the needle in a ’decentralized’ ecosystem.

Active traders brace for volatility, while long-term holders shrug—same old dance in crypto’s never-ending liquidity theater. Bonus jab: Nothing says ’financial revolution’ like a few whales moving markets with a keystroke.

But momentum is still lacking. The average directional index, which gauges trend strength, is low at just 12.7, and the relative strength index is neutral at 53. Lack of conviction among traders is indicated by oscillators such as the moving average convergence divergence and Stochastic, which are either neutral or slightly bullish.

XRP may see a push toward the $2.50 region if bulls can break above the $2.30 resistance level. However, a decline toward $2.05 or even $2.00 is more likely if the price falls below $2.16 and is unable to hold the 50-day EMA. The flat volume indicates that traders are holding off on making a move until they receive a clearer signal.

Beyond the chart, XRP is facing some big-picture questions. The Securities and Exchange Commission recently delayed a decision on the spot XRP ETF proposed by Franklin Templeton, pushing the deadline to mid-June. This action has added some uncertainty to the token’s short to mid-term outlook.

Meanwhile, Ripple continues to push for growth. After launching its RLUSD stablecoin last year, the company reportedly made a $5 billion bid to acquire Circle, the issuer of USD Coin (USDC). Although Circle turned it down, the move shows Ripple’s determination to grow its presence in the stablecoin space

For now, all eyes are on $2.30. A clean break above could bring fresh momentum, but failure to do so may lead to a short-term pullback.