A significant shift just hit the XRP market. According to a post by STEPH IS CRYPTO on X, one large investor has closed a massive $6 million in short positions on XRP. This move could signal that the recent selloff is cooling off, and potentially, that the worst of the decline is behind us. A Turning Point for XRP? Closing a large short position means the whale is no longer betting against XRP’s price. When a high-volume trader exits a short worth millions , it often marks a change in sentiment, either taking profits after a successful dump or anticipating that the downside momentum is fading. In either case, this action removes bearish pressure and could open the door for a rebound. The timing is crucial. XRP had recently plunged to as low as $2.75, down from its earlier push above $3.00, amid broad market volatility and strong institutional outflows. But now, with that $6 million in short positions off the table, the tone appears to be shifting. XRP is currently trading around $2.98, up nearly 6% over the last 24 hours. Market data shows key support holding firm at $2.75, with immediate resistance at $3.03 now in focus. BREAKING: ONE WHALE JUST CLOSED $6M IN #XRP SHORTS. IS THE DUMP OVER? pic.twitter.com/Q1OJP8zEtX — STEPH IS CRYPTO (@Steph_iscrypto) August 3, 2025 Ripple Effects Across the Market This development comes as the broader crypto market finds its footing. Bitcoin has stabilized above $114,000, and other major altcoins—like Ethereum and Cardano—are posting strong daily gains. Optimism is rising ahead of a potential U.S. Federal Reserve rate cut in September, especially after a weaker-than-expected jobs report. Investors are beginning to re-enter riskier assets, and XRP appears to be riding that wave. Adding to the positive momentum are speculative forecasts suggesting XRP could reach $6.30 or more if this recovery continues . While some projections are overly ambitious, they reflect renewed enthusiasm from traders looking to capitalize on the coin’s volatility. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 What This Means for XRP Holders For XRP holders, the whale’s move could be a green light. The closure of a $6 million short position removes a major source of sell pressure and suggests the recent decline may have exhausted itself. It also hints that large players are now less confident in further downside action. Still, caution is warranted. XRP remains sensitive to broader macro trends, regulatory news, and sentiment shifts. But for now, the technical picture is improving. If support holds at $2.75 and volume remains strong, a break above $3.03 could trigger further upside. Summarily, STEPH IS CRYPTO’s alert about the whale’s short closure may mark a pivotal moment in XRP’s current market cycle. While it’s too early to call for a full-scale rally, this development removes a critical bearish overhang. If momentum continues and macro conditions remain favorable, XRP could be setting up for its next leg upward. In short, the dump may be over —or at the very least, the heaviest selling pressure might be behind us. Holders now have a reason to stay watchful—and maybe even hopeful. 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. Follow us on Twitter , Facebook , Telegram , and Google News The post This Whale Closes $6 Million in XRP Shorts. Here’s What It Means for Holders appeared first on Times Tabloid .
