Crypto commentator John Squire sparked major attention this week after revealing on X that a single buyer acquired 19 million XRP — valued at roughly $61 million — in one transaction on South Korea’s leading exchange, Upbit. The report immediately fueled speculation about whale activity and its potential impact on XRP’s price.
The Initial Alert and Market Reaction
Squire’s post quickly spread across the crypto community. Whale Alert, a popular blockchain tracking service, flagged the transfer, showing 19 million XRP moving from an Upbit-tagged address to an “unknown” wallet. Traders interpreted the development as a possible sign of large-scale accumulation, sparking immediate chatter about bullish momentum for XRP.
Clarifications from On-Chain Data
However, deeper analysis soon suggested that the transfer was not an external buy. On-chain data revealed that the movement was an internal transfer within Upbit’s wallet structure, likely part of routine liquidity and security management.
🚨 BREAKING 🚨
A whale grabbed 19 MILLION $XRP worth $61M in a single buy on Upbit! 🚀🐋
This kind of move can send ripples through the whole market. 🌊📈 pic.twitter.com/PvF2KGI0JE
— John Squire (@TheCryptoSquire) August 16, 2025
Exchanges frequently reshuffle tokens between hot and cold wallets to balance reserves and meet withdrawal demands, which can sometimes be mistaken for whale purchases.
XRP Price Trends and Market Context
Even with the clarification, the report briefly influenced XRP’s price action. The token saw upward pressure as traders responded to the perceived whale activity, before stabilizing once the move was confirmed as internal.
XRP is currently trading at around $3.11, with a 24-hour range of $3.01 to $3.15. This represents a steady 6% gain since the end of July, when it was trading near $3.03. Analysts believe the uptrend is driven by favorable macroeconomic conditions, including lower US inflation and expected Fed rate cuts, which have boosted the cryptocurrency market.
Technical indicators also show support for XRP’s positive trajectory. Its 200-day moving average is trending upward, signaling strong long-term momentum, even as short-term trading remains neutral to mixed.
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Analysts Weigh In
Experts caution that not every whale alert reflects new accumulation. While genuine large-scale purchases can reinforce bullish sentiment, many flagged transfers are simply internal exchange operations.
Still, the scale of this 19-million-XRP movement demonstrates how quickly market narratives can form and shift, especially when linked to a major exchange like Upbit, which remains one of the most influential liquidity hubs for XRP globally.
Looking ahead, many analysts remain optimistic about XRP’s performance. Forecasts suggest the token could climb toward $4 by year-end, supported by its strengthening technical structure, strong liquidity on Asian exchanges, and easing regulatory pressures.
Why This Matters for Investors
The episode underscores two important lessons for XRP traders. First, large transactions on South Korean exchanges carry outsized influence, given the region’s pivotal role in XRP liquidity.
Second, initial whale alerts can drive volatility before the full story is clear. In this case, John Squire’s alert drew attention, Whale Alert provided the data, and subsequent blockchain analysis supplied the necessary context.
Ultimately, while the 19-million-XRP transfer was real, its meaning shifted once the details emerged.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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