Breaking down impact of 167M XRP whale action on Ripple's prices

XRP formed a head-and-shoulders pattern, with $2.00 as key support for a breakout. Market sentiment showed caution, with slightly more long positions and rising active addresses. The recent transfer of 167 million XRP, valued at approximately $367 million, has captured significant attention within the cryptocurrency community.

This large-scale move from one unknown wallet to another has sparked discussions about Ripple’s [XRP] future price potential.

As the market reacts to this transaction, it’s important to analyze the current price action, sentiment, and key indicators to assess whether XRP is poised for a breakout or facing further challenges.

XRP price action analysis: Is a breakout imminent? At press time, XRP was trading at $2.11, reflecting a 1.95% decline over the past 24 hours.

The chart displays a distinct head-and-shoulders pattern formed over recent months, with the left shoulder appearing in November 2024, the head in December, and the right shoulder in March 2025.

The neckline at $2.00 serves as a critical level to monitor. If XRP stays above this support, it may indicate a potential breakout, with resistance at $2.30 as the next target.

However, a break below the neckline could trigger further bearish momentum, driving the price down to the next support level at $1.99.