Ripple Moves $498M in XRP as Whale Activity Sparks Market Speculation

Ripple has drawn market attention with a massive XRP transfer worth $498 million to an unknown wallet on June 6, according to a recent alert by blockchain tracker Whale Alert. The move puzzled the crypto community, especially since it followed Ripple’s early release of one billion XRP from escrow on June 4—an unusual deviation from its typical monthly schedule. This led to concerns over potential selling pressure, despite Ripple having locked 670 million XRP back into escrow shortly afterward.

Some analysts interpret the large-scale transaction as a bearish signal for XRP, now trading at $2.25, down 0.17% in the past 24 hours, per CoinMarketCap. Adding to market intrigue, another transfer of 50 million XRP (around $108 million) was recorded between unidentified wallets the same day, further stirring speculation about institutional positioning or internal reshuffling.

Meanwhile, Shiba Inu (SHIB) saw an unusual spike in whale activity on June 5, with 24.3 trillion SHIB moved—the highest volume in six months. Data from IntoTheBlock revealed 522 large transactions in a single day, signaling possible strategic accumulation or distribution ahead of a major price move. Despite the surge, SHIB remains near $0.000012. A breakout above the $0.0000138 level could push prices to $0.0000156.

Dogecoin (DOGE) is also gaining traction, approaching a milestone of eight million holders, placing it behind only Bitcoin and Ethereum. DOGE currently trades at $0.1845, up 0.45% in 24 hours. Analysts highlight $0.20 as key resistance, with a breakout potentially leading to a run toward $0.26 or even $0.38, while a drop below $0.14 could send prices tumbling to $0.10.