Whale Alert: 19M XRP Bought in Single Upbit Move
Market analyst Adex Crypt has reported a single whale just bought 19M XRP, worth a whopping $61 million, on Upbit, a transaction that has traders watching the order books and on-chain flows closely.
Blockchain trackers first flagged the huge transfer from crypto exchange Upbit to an unknown wallet, often seen as a large accumulation or exchange reshuffle. Such outflows can tighten liquidity and spike volatility, especially amid thin order books.
Adex Crypt framed the purchase as more than a single buyer’s bet, it’s a signal. In his view, mega-buys like this can catalyze momentum-driven moves because they reduce XRP supply on major exchanges and can force short squeezes if leveraged positions are crowded near current price levels.
That interpretation sits alongside a wider pattern of whale accumulation observed across August, which some on-chain analysts say has seen hundreds of millions of XRP shift into large wallets.
For instance, in a swift market jolt, XRP whales scooped up roughly 900M tokens in just 48 hours this week.
Retracement to Fibonacci Zone Sets Up $4.67 Rally
XRP has broken out of a long-term descending wedge, a classic bullish reversal. It’s now retracing to the $0.5–$0.618 Fibonacci zone, aligning with key support, an ideal area for accumulation, targeting $4.67, according to market analyst Justcryptopays.
Therefore, as XRP retraces to the $0.5–$0.618 Fibonacci zone, traders eye potential re-entry points.
The convergence with structural support boosts accumulation prospects, setting the stage for a rally toward $4.67 if the zone holds.
Meanwhile, XRP must break the key $3.26 resistance to increase its odds of a significant upside move.
At the time of this writing, XRP was trading at $3.10, according to CoinGecko data.
Conclusion
XRP’s breakout from the descending wedge and retracement to key Fibonacci levels creates a prime accumulation setup. Support at the $0.5–$0.618 zone could confirm the next leg up toward $4.67.
On the other hand, the 19M XRP transfer is a notable move, potentially market-shaking, per Adex Crypt, but its impact depends on whether it signals lasting accumulation or a short-term shuffle.
