Ripple Whales Move 1.35B XRP — Bullish or Bearish?

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Over the last two months, the supply of XRP in exchanges has recorded a 1.35 billion decrease in terms of total tokens held. This shift is raising questions on what the big players, commonly referred to as whales, are up to behind the scenes.

45% Decline in Exchange Balances
According to on-chain data shared by ChartNerd, XRP’s total exchange balance dropped from 3.95 billion to 2.6 billion tokens. This marks a 45% reduction over a period of fewer than 60 days.

Long-Term Structure Targets $22 Peak
Analyst CW shared a chart showing XRP in a four-phase market cycle. This cycle includes a base, a sideways range, a tightening pattern, and a breakout move. The current setup mirrors a pattern seen in 2017.

Notably, the chart places the next possible price target at $22. This level is based on a Fibonacci extension of 6.618 from the prior move. On the weekly chart, the Stochastic RSI is rising from oversold levels. In past cycles, this indicator turned upward ahead of strong price increases.


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