• SBI Holdings transferred 320 million XRP valued at over 703 million dollars ahead of Ripples scheduled unlock.
  • Whale Alert flagged the transaction, which occurred just days before Ripples planned release of 1 billion XRP.
  • Ripples routine monthly token unlock increases the circulating supply and often influences short-term price dynamics.
  • XRP has remained range-bound between 2.10 and 2.20 dollars despite the significant token movement.
  • Analysts identified a bullish pattern within an ascending channel, suggesting XRP could be preparing for an upward breakout.

SBI Holdings has moved 320 million XRP worth over $703 million, just days before Ripples scheduled token unlock. Whale Alert flagged the transfer, highlighting the timing and scale of the movement. Ripple is set to release 1 billion XRP from escrow, increasing the total circulating supply.

The large-scale XRP shift from SBI Holdings has drawn attention due to its proximity to Ripples upcoming token release. Typically, Ripple unlocks 1 billion XRP at the start of each month. These scheduled releases often impact market dynamics by expanding the available supply.

As a result, analysts now examine whether the SBI move was made to preempt any supply-driven market response. The XRP market has remained largely stable despite the transfer. However, traders and institutions alike are closely studying the broader implications.

XRP Faces Key Resistance Despite Stability

XRP continues to trade within a narrow price range, showing little reaction to the significant transaction. Over the past several weeks, it has hovered between $2.10 and $2.20. The price now sits at approximately $2.22, with limited volatility.

Despite this, chart analysts remain focused on XRPs technical positioning within a long-standing ascending channel. XRP has repeatedly bounced from its lower support, suggesting steady accumulation. The pattern may indicate that buying pressure is building near a critical resistance zone.

Lingrid, a technical analyst, has pointed to the ongoing stair-step formation supporting a potential upside move. She has observed that XRP has respected the $2.00 support. This level appears to be acting as a psychological and technical floor for further moves.

If buyers maintain control above that support, a test of the $2.45 resistance is possible. Traders are now waiting for confirmation through volume expansion. Momentum indicators also suggest that pressure is building toward a breakout scenario.

The XRP movement from SBI Holdings appears to be timed ahead of Ripples scheduled unlock of 1 billion XRP. Such synchronization raises questions about major institutional players market strategies. While SBI has not provided a comment, the transfer implies calculated positioning.

Institutional investors often adjust portfolios before high-volume events to manage exposure and liquidity. The release of escrowed XRP has historically influenced short-term price movement. Thus, proactive actions from large holders are not uncommon.

DonAlt, a well-known market strategist, has noted XRPs consolidation as a potential base for renewed upward movement. His past forecasts have closely aligned with XRPs actual price trends. Traders now watch for confirmation of a similar surge.