XRP Bulls Defend $1 as Ripple-Linked Wallet Moves Massive Token Load
A significant movement of XRP from a Ripple-associated wallet has been observed, with 50 million tokens routed towards Binance. The timing is particularly sensitive as XRP was hovering just below the $1 mark, a psychological floor for traders.
According to on-chain data, the 'Ripple (50)' wallet first shifted the 50 million XRP internally and then distributed it in repeated tranches to an address flagged as Binance-related. Another ~23 million XRP also landed at the same destination over the week.
While on-chain data alone can't prove intent, the flow has put the market on edge given the price is parked on a round-number support level that everyone is watching. Derivatives positioning remains heavily skewed long, with aggregate open interest sitting on $2.75 billion and positive funding rates showing traders were still paying to stay bullish.
The setup could play out in contrasting ways, with a crowded long book potentially flipping into forced selling if the spot price cracks. A sustained reclaim above $1.02 would signal early stabilization, while a clean break below the $1 price tag risks a sharper leg lower as traders reduce risk and leveraged plays get eaten first.