The post Technical Tension Builds for XRP—Whales Stack 190M Tokens appeared on BitcoinEthereumNews.com.

Whale wallets increased holdings by 190 million XRP, even as bearish chart patterns persist. Market eyes June 16 SEC deadline and $2.20 breakout level as pressure builds around XRP. XRP has been under pressure since early June, with sellers in control. A death cross appeared on the four-hour chart on May 30, where the 50-day simple moving average (SMA) crossed below the 200-day, suggesting downside pressure. The last time this pattern showed up—on March 30—the price dropped by 23% in just a week, reaching $1.67. At the moment, XRP trades around $2.18. Charts suggest more downside is possible. An inverted cup and handle is forming—commonly linked with bearish price setups. If XRP breaks below $2.06, the next levels to watch are $1.71 and $1.68. The $2.06 mark is now acting as a key short-term support. Source: TradingView On the other hand, momentum indicators hint at possible changes. The MACD is showing early signs of convergence between its main line and signal line, which could point to a shift in direction if confirmed. If the 50-day SMA flattens or starts turning up, the bearish outlook may lose strength. For now, though, traders are watching the support zones closely. Whale Action Offsets Market Uncertainty Large holders of XRP have been increasing their positions despite weak chart indicators. Over one week, wallets holding between 1 million and 10 million tokens added 190 million XRP, raising their total from 6.08 billion to 6.27 billion. The activity was tracked by Santiment. This uptick in accumulation may be tied to legal developments in the Ripple vs. SEC case. Pro-XRP attorney Bill Morgan pointed out a possible key moment on June 16, when the SEC’s 60-day appeal response window ends. Investors appear to be anticipating a result that could favor Ripple. Attorney Keri Axel of Waymaker LLP…

---

Filed under: News - @ June 8, 2025 8:25 am