Colossal XRP Transaction Rocks Coinbase, Sparking Market Volatility

XRP Whale Moves Spark Speculation as Crypto Markets Tumble

Massive XRP Transfer to Coinbase Raises Eyebrows

A significant XRP transaction has caught market attention, with $59.9 million worth of XRP transferred to Coinbase in minutes. While the motive remains unclear, such large transfers often precede market volatility.

Crypto Markets Face Intense Selling Pressure

The crypto market suffered heavy losses, with over $1.16 billion in liquidations wiping out leveraged positions. XRP dropped 5.24% to $2.13 as Friday trading opened with strong selling pressure across the board.

Overly Optimistic Positioning Leads to Losses

CoinGlass data shows 248,624 traders liquidated within 24 hours. Long positions bore the brunt, losing over $1 billion - a stark reminder of the risks in leveraged crypto trading, especially after periods of bullish sentiment.

XRP Gaining Traction in Corporate Treasuries

Despite market turbulence, XRP continues attracting institutional interest. Companies including Webus International ($300M), VivoPower ($121M), and Wellgistics ($50M) have collectively allocated over $470 million to XRP in their treasury strategies.

Ripple and SEC Seek to Resolve Ongoing Legal Battle

The SEC and Ripple jointly filed to dissolve their case's injunction and release a $125 million civil penalty. Under the proposal, $50 million would go to the SEC while Ripple receives $75 million back. This move aims to conclude remaining appeals and avoid prolonging the high-profile legal battle into another year.