A significant XRP transaction has recently caught the attention of the market, with $59,925,621 worth of XRP transferred to Coinbase in just minutes within a single transaction.
According to blockchain data tracker Whale Alert, "26,671,734 XRP worth $59,925,621 was transferred from unknown wallet to Coinbase."
Deposits to exchanges might imply an intent to sell, while withdrawals might signify buying; the move might also be a mere reshuffling of funds; however, the exact reason remains unknown.
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Sat, 06/07/2025 - 10:18 XRP Makes Key Reversal but Volume Drops 48%: Is It Concerning? ByTomiwabold Olajide
At press time, XRP price was recording losses, extending its drop into the fourth day since June 9. The drop caused a loss of the daily SMA 50 at $2.28, reaching a low of $2.08 in the early Friday session.
XRP price in red
XRP price is trading in red, down 5.24% in the last 24 hours to $2.13, as the broader crypto market faced intense selling pressure in the early Friday session.
Crypto markets reported significant losses, with over $1.16 billion in liquidations wiping out leveraged positions across major exchanges, marking one of the bloodiest days in recent months.
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Thu, 06/12/2025 - 12:52 Pro-Ripple Lawyer Issues One-Word Verdict on $100 Million XRP Deal ByGamza Khanzadaev
CoinGlass data suggests 248,624 traders were liquidated in 24 hours. Long traders took the brunt of the losses, accounting for over $1 billion, indicating overly optimistic positioning after a week of bullish sentiment.
Optimism remains
XRP is currently gaining attention for its growing footprint in corporate treasuries. Webus International ($300 million), VivoPower ($121 million) and Wellgistics ($50 million) have together set aside more than $470 million in XRP for their treasury strategy.
The SEC and Ripple have jointly filed a motion to dissolve the injunction in their case and release the $125 million civil penalty. $50 million would go to the SEC, with the remaining $75 million refunded to Ripple based on the proposal. The action aims to resolve remaining appeals in the Second Circuit and prevent extending the matter into another year of judicial battling.
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