Coinbase Whales Limit XRP Price Volatility Amid Bullish September Outlook
The XRP price was facing significant resistance due to large orders linked to Coinbase whales. According to market commentary, these whales were placing sell and buy walls on both sides of the market, limiting sudden price swings.
Whale sell walls were visible at $1.53, $1.60, and $1.70, which could become important if buying pressure increases. A strong move toward these levels would put the XRP price in front of areas where large sell orders had reportedly been placed.
The latest activity came as XRP returned to net buying after five straight days of net selling. However, the asset was showing slight net selling at the time of the update.
Market analyst EGRAG Crypto highlighted XRP's strong August performance, noting that it raised attention on its historical September performance. According to historical data, when August closed in positive territory, September followed with a 66.7% chance of also being positive.