An analyst known as CW says large Coinbase-linked holders are pinning XRP's price with buy and sell walls on both sides of the order book. The token is holding near $1.51 after more than doubling from its early-August low, and futures data now points to bullish positioning building even as the price stays flat.
An analyst has claimed that large Coinbase-linked holders are pinning XRP's price in place with buy and sell walls on both sides of the market. The thesis landed as the Ripple token hovered near $1.51, holding a tight range after a rally that more than doubled the asset's price from its early-August low.
A Split Order Book
The analyst, known on X as CW, posted a chart showing XRP consolidating between roughly $1.52 and $1.53, with heavy sell orders stacked above $1.70 and $2.00 and buy orders clustered just under $1.52.
According to CW: "It is Coinbase whales that are controlling the price of XRP". The account argued the walls are not there to push price up or down but to hold it in place, tying the standoff specifically to US trading desks not yet ready for a rally.
Futures Positioning Points to a Setup
CW followed up with data on futures positioning, suggesting the setup for a rally is building even though price has not moved. Whale long/short ratios on Binance and OKX are both leaning bullish, with OKX's whale position ratio at 8.16.
Smart money sentiment, however, stayed split: extremely bullish on OKX, extremely bearish on Bybit, and merely bearish on Binance, which was an improvement from a more bearish reading a day earlier. Taker volume stayed close to even, at 48.74% long against 51.26% short.
In another post, CW said XRP had broken through its point of control and main resistance zone, with the sell wall now above price looking small by comparison.
Source: CryptoPotato
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