Coinbase Whales Set Trap for XRP Holders at $32

Crypto commentator Jared Johnston has issued a warning to XRP holders about a price target he believes is a trap. According to Johnston, large sell walls placed by Coinbase whales in the upper $20s to $32 range are designed to shake out retail investors before a larger move.

Johnston points to whale activity on Coinbase as his starting concern, where major players have placed sell orders worth tens and hundreds of millions of dollars concentrated in the $28 to $32 range. Separately, two well-known crypto figures known as Riddlers posted price targets of $33, which Johnston finds 'pretty conspicuous.'

Johnston argues that these sell walls are speed bumps, where institutional players pump XRP into the low $30s, retail holders see a number far beyond their expectations, and they sell. He believes this is the exact outcome these mechanisms are designed to produce.