Ripple's recent movement of 46 million XRP has added pressure to an already active market, as traders assess rising on-chain activity and the asset’s approach to a key resistance level. The transfer occurred during a period of intense demand for crypto ETFs and followed a sharp rise in XRP Ledger velocity, which reached its highest level of 2025.
Ripple's $101 Million Transfer Coincides With Rising Network Velocity
Whale Alert data showed two consecutive transfers involving 46,019,328 XRP each. Ripple moved the funds from its “Ripple (50)” wallet to an internal address before routing the same amount to a wallet linked to Binance. The total value exceeded $101 million at current prices.
Besides the liquidity shift, CryptoQuant data confirmed a sharp rise in XRP velocity on December 2. The metric climbed to 0.0324, marking this year’s highest reading.
High velocity often signals strong network engagement and rapid circulation. Moreover, the surge indicates increased participation from traders and whales during a period of heightened volatility.
Market activity intensified as investors monitored whether these movements would influence short-term liquidity conditions. Significantly, the token’s fast turnover suggested that market participants remain active despite the recent price pullback.
Price Holds Below Resistance as Analysts Eye the $2.28 Breakout
XRP traded at $2.13 as of press time, posting a mild daily decline while weekly losses remained near 2%. The market cap stood at $128.7 billion, with 60 billion tokens in circulation. The token continued moving inside a broad descending channel, which has consistently limited recovery attempts.
This downward channel keeps traders focused on key resistance levels, with the $2.28 zone now standing as the first major barrier to upward momentum. Analyst Ali Martinez noted that a firm break above this area could open a path toward $2.47 and possibly $2.75.
Additionally, traders view this level as a structural midpoint that could shift sentiment if reclaimed. A failure to clear $2.28 risks renewed downside, with $2.10 acting as the next support level inside the lower channel.