Ripple Moves XRP Holdings to Coinbase Amid Price Recovery

Ripple has made a series of large transactions, transferring millions of XRP coins to Coinbase, a leading cryptocurrency exchange.

The transfers were revealed through on-chain analysis and follow a trend where Ripple executives moving their holdings to exchanges is considered bearish. The latest moves come amid XRP's recent price recovery, with the token trading 1.6% higher at $1.44 today.

Analysts predict that XRP prices will trade between the 50-DMA and 100-DMA, with a major move expected ahead after a symmetrical triangle breakout. This comes as derivatives data shows buying sentiment among traders, with total futures open interest jumping 0.75% to $2.60 billion in the last 24 hours.