Analyst Attributes XRP Price Stagnation to Large Coinbase Holders
An analyst has suggested that substantial holders linked to Coinbase are manipulating XRP’s price through significant buy and sell orders on both sides of the market.
This theory emerged as the Ripple token traded near $1.51, maintaining a narrow range following a rally that more than doubled its value from early August lows.
A chart shared by the analyst, identified as CW, depicted XRP consolidating between approximately $1.52 and $1.53. The data indicated substantial sell orders positioned above $1.70 and $2.00, while buy orders were clustered just below $1.52.
“It is Coinbase whales that are controlling the price of XRP,” the account stated, asserting that these order walls are not intended to drive the price up or down but rather to keep it stable. The analyst further linked this price standoff to U.S. trading desks not yet being prepared for a significant price increase.
Later, CW provided data on futures positioning, suggesting that conditions for a rally are developing despite the lack of price movement.
The data revealed that whale long/short ratios on Binance and OKX were both leaning bullish, with OKX’s whale position ratio at 8.16. However, sentiment among sophisticated investors remained divided: extremely bullish on OKX, extremely bearish on Bybit, and mildly bearish on Binance, which represented an improvement from a more bearish outlook the previous day. Taker volume was nearly balanced, with 48.74% of trades indicating long positions and 51.26% indicating short positions.
In a separate post, CW noted that XRP had surpassed its point of control and a key resistance zone, with the sell wall now positioned above the current price appearing relatively small.
Exchange-Traded Fund (ETF) flows offered another perspective, showing a net inflow of $13.82 million across XRP ETFs. This was distributed as $8.25 million into Bitwise’s fund, bringing its cumulative assets under management to $551 million; $4.01 million into Franklin’s XRPZ, reaching $438 million cumulatively; and $1.57 million into Canary’s XRPC fund.
Combined assets under management for XRP ETFs stand at $1.441 billion, with total XRP ETF volume, including spot and other forms, exceeding $207 million for the day.
CryptoPotato reported that XRP experienced a surge of over 65%, pushing its market capitalization above $94 billion and briefly positioning it as the fourth-largest cryptocurrency, ahead of BNB, before later falling back to fifth.
The token saw a rapid ascent from below $1.00 to nearly $1.70 in less than 72 hours, reaching its highest level since January, before retracing. Market observers, including EGRAG CRYPTO, identified the $1.65 to $1.70 range as a critical level for determining XRP’s future trajectory.
Diana, another active trader on X, presented a wave count analysis suggesting $1.79 as the initial target if XRP breaks through resistance between $1.53 and $1.64. Subsequent targets were projected at $2.58 and $2.89, following a potential pullback to the $1.27 to $1.30 range.
At the time of reporting, XRP was trading around $1.51, representing a more than 50% increase over the past seven days. The token’s trading volume also rose by over 11% from Monday’s figures, reaching $5.9 billion. However, it remains approximately 59% below its all-time high of $3.65, recorded in July 2025.
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