XRP’s price has declined significantly over the past week. The token currently trades at a seven-day low of $2.09, and key indicators suggest that the downtrend may continue in the near term.
Market data shows a steady rise in the demand for short positions. This trend reveals growing trader confidence in further downside movement, with short sellers increasing their exposure in anticipation of the XRP token’s continued weakness.
XRP Faces Prolonged Sell Pressure
XRP’s long/short ratio reflects the bearish bias dominating its futures market. At press time, the ratio stands at 0.98, indicating more traders are betting against the altcoin.
This ratio compares the number of long and short positions in a market. When an asset’s long/short ratio is above 1, there are more long than short positions, indicating that traders are predominantly betting on a price increase.
Conversely, as seen with XRP, a ratio below one indicates that most traders are positioning for a price drop. This reflects heightened bearish sentiment and growing expectations of continued downside movements.
According to Coinglass, XRP last recorded a long/short ratio above one on April 22. This means it has been over two weeks since bullish positions outnumbered bearish ones in the XRP futures market. The extended period of bearish dominance suggests that market participants have grown increasingly pessimistic about XRP’s short-term prospects.
On the daily chart, the newly formed “death cross” by XRP’s Moving Average Convergence Divergence (MACD) indicator supports this bearish outlook. Readings from the XRP/USD one-day chart have revealed that XRP’s MACD line (blue) closed below its signal line (orange) on Monday, forming a death cross.
This pattern is a notable marker of a sustained downtrend and is widely viewed by traders as a sign of weakening price strength. Hence, XRP risks plummeting further.
XRP Holds Key Support at $2.09 — But for How Long?
XRP currently trades at $2.10, resting above the support formed at $2.03. If selloffs strengthen, the support floor could weaken, making way for a price decline toward $1.61.
Bitcoin (BTC) in 2025 is buzzing with activity as long-dormant Bitcoin wallets, often referred to as “old whales,” spring back to life after years of inactivity.
Recent large transactions from untouched wallets for over a decade and significant Bitcoin movements to exchanges are capturing the crypto community’s attention. These developments reflect changes in the behavior of major investors and may signal potential price volatility on the horizon.
Old Bitcoin Whales Suddenly Active Again
Recently, 3,422 Bitcoins, equivalent to $324 million, were transferred from a wallet that had been dormant for 12 years to a new address. These Bitcoins originated from BTC-e, one of the oldest shut-down exchanges.
Back in 2012, the initial value of these BTC was just $46,000. Today, their value has surged 7,018 times, a clear result of Bitcoin’s long-term growth potential.
Around the same time, another wallet holding 2,343 BTC, valued at over $221 million, activated again after 11.8 years of dormancy. Transactions from these “sleeping” wallets often draw significant attention within the community, as they may indicate that veteran investors are starting to liquidate assets or preparing for other strategic moves in the market.
Bitcoin Movements to Exchanges: Rising Selling Pressure?
In addition to the reactivation of long-dormant wallets, the market has also seen a series of large Bitcoin transfers to major exchanges. According to data from Whale Alert, these transactions spiked in early May 2025.
Specifically, 2,402 BTC were moved from Ceffu to Binance, 600 BTC ($56.65 million) were transferred from an unknown wallet to Bitfinex, and 1,636 BTC ($154.05 million), along with 1,385 BTC ($130.74 million), were sent from Cumberland to Coinbase Institutional. Another transaction involving 1,142 BTC ($107.68 million) was also recorded from an unknown wallet to Coinbase Institutional.
These movements suggest that Bitcoin whales actively shift their assets to exchanges, a behavior often interpreted as a sign of potential selling pressure.
Beyond individual whales, Riot Platforms, a leading Bitcoin mining company, sold 475 BTC in April 2025 to cope with industry pressures. This move comes as the Bitcoin mining sector faces rising operational costs following the 2024 halving event, forcing many companies to liquidate portions of their holdings to sustain operations. Meanwhile, MicroStrategy, an institutional investor known for its Bitcoin accumulation strategy, continues to buy in despite criticism of its high-risk investment approach.
However, data from Coinglass reveals that last week, exchanges recorded a net outflow of 15,700 BTC, with total balances dropping to 2.2 million BTC. This could reflect a long-term accumulation trend among large investors, as they withdraw Bitcoin from exchanges to store in cold wallets, reducing the circulating supply in the market.
What did These Movements mean for the Bitcoin Market?
The activities of old whales and major institutions fuel speculation about the Bitcoin market’s future direction. According to a CryptoQuant report from March 2025, the Exchange Whale Ratio on Binance has recently declined, indicating a reduction in selling pressure from large investors, a positive signal for BTC’s price.
The Exchange Whale Ratio, which fell below 0.3 on April 23, indicates a major shift in participation, from institutional or big traders to more retail-dominant flows.
Bitcoin exchange whale ratio. Source: CryptoQuant
“This suggests less whale selling and, perhaps, a “cleaner” market environment in which price movements are driven by organic demand rather than large-volume sell-side pressure.” Analysis shows that
Short-term Bitcoin holders have not yet taken significant profits to form selling pressure, and upward momentum is still accumulating.
“The current NUPL is 8%, while its 30-day SMA remains negative and holds at -2%. Until NUPL exceeds 40%, selling pressure from this cohort will remain minimal, which is a bullish signal.” Analysis shows that
However, the recent transfers of Bitcoin to exchanges suggest that short-term selling pressure may increase, particularly as Bitcoin hovers around $95,000, with key support levels at $93,000 and $83,000.
The reactivation of long-dormant wallets also signals confidence from veteran investors, who are gearing up for a new bullish cycle. These developments paint a complex market picture, with both opportunities and risks on the horizon.
The resurgence of old Bitcoin whales, significant transfers to exchanges, and actions from institutions like Riot Platforms are heating the crypto market in 2025. These movements reflect shifting sentiments among major investors and could shape Bitcoin’s price trends in the coming months. While the potential for growth remains, investors must stay vigilant and prepared for unexpected market fluctuations.
Airdrop tokens are under the spotlight as Kadena (KDA), Huma Finance (HUMA), and Sophon (SOPH) face volatile market reactions following their recent distributions.
Kadena kicked off a Galxe campaign with a $55,000 prize pool but remains down 14.4% in the last week. HUMA has dropped over 51% in just three days after its Season 1 airdrop, despite strong investor backing. Meanwhile, SOPH plunged 33% within 24 hours of launch due to a massive token unlock and continues to test key support levels amid high leverage and limited utility.
Kadena (KDA)
Kadena leads the list of top crypto airdrops for the final week of May, raising over $35 million with backing from major investors like Multicoin Capital, CoinFund, and SV Angel.
The project, a Layer 1 Proof-of-Work blockchain focused on scalability, launched a confirmed airdrop campaign through Galxe with a 100,000 KDA prize pool—valued at around $55,000.
Users can participate by completing tasks such as connecting wallets, joining social channels, or holding KDA tokens. The campaign runs until August 24, offering a strong incentive for community engagement and ecosystem growth.
However, if sentiment shifts and buying pressure returns, the token may retest resistance at $0.54, with further upside potential toward $0.621 and $0.677.
Huma Finance (HUMA)
Huma Finance recently unveiled its full tokenomics and Season 1 airdrop details, allocating 5% of the total 10 billion HUMA token supply to early users.
Backed by major investors like Circle and HashKey Capital, Huma is positioning itself as a first mover in the emerging PayFi sector. It aims to merge instant payments with DeFi and real-world assets.
Despite raising over $46 million and planning a second airdrop of 2.1% post-TGE, the project faced criticism for its relatively low initial airdrop allocation.
The team insists this is just the beginning, but market engagement has been modest, signaling shifting user preferences toward newer airdrop models.
Since the airdrop, HUMA has plunged more than 51% in just three days, reflecting a lack of buying support following the airdrop. If the current downtrend continues, the price could fall below $0.0503, testing new lows.
However, if sentiment shifts and the token finds support, it could rebound to challenge resistance at $0.055. A stronger rally could even push HUMA up toward $0.0596, though sustained momentum would be needed to reverse the early bearish pressure.
Sophon (SOPH)
Sophon’s SOPH token dropped over 33% within 24 hours of its debut and Binance listing, primarily due to the sudden release of 900 million airdropped tokens.
Despite strong backing—including over $70 million in funding and support from Binance Labs—the token’s limited immediate utility and the overwhelming supply shock triggered a sharp sell-off.
Adding to the volatility, Binance assigned SOPH a “seed tag” and enabled futures trading with up to 75x leverage, amplifying price swings.
SOPH is now hovering near a key support level at $0.056, which may be tested soon if pressure continues. Should the token regain bullish momentum, it could challenge resistance at $0.059.
A strong uptrend could push SOPH further to $0.061, $0.064, and possibly $0.067.
Hackers allegedly demanded 40 Bitcoin (BTC) from Gokal, as evidenced by this caption accompanying one of his images.
“You should’ve paid the 40 BTC,” the caption read.
Meanwhile, another image of Gokal holding up his passport was posted with the caption,
“It was only 40 BTC.. should’ve paid.”
BREAKING:
Famous rapper ‘Migos’ IG account appears to be hacked and has posted photos of Solana co-founder @rajgokal ID, passport, & more with sensitive info leaked.
Caption reads “you should’ve paid the 40 btc” which reads like a failed bribe. pic.twitter.com/HM9y2XRjMa
Additionally, some images appeared to contain more private information, such as phone numbers and email addresses. In fact, in one of the posts, hackers exposed Gokal’s personal number and urged followers to spam him. One post also included a photo of an individual identified as “Arvind.”
“There appears to be a guy Arvind who’s had his public SOL balance (or maybe it’s Raj’s?) leaked here,” Andy, co-founder of The Rollup, posted on X.
The posts remained visible for about 90 minutes before Meta removed them and regained control of the account. Besides the leaked images, the hackers altered Migos’ Instagram bio to advertise a meme coin.
“Also, there was just a link posted to a telegram group which is selling unreleased music,” Andy added.
Blockchain investigator ZachXBT also weighed in on the incident. He suggested that Gokal’s personal accounts were likely targeted through social engineering tactics over the past week.
“They tried to extort him for funds with the PII obtained. Guess he didn’t pay so they started trolling and posted it after they compromised Migos Instagram account today,” ZachXBT stated.
The hack follows Gokal’s previous warning on X. He notified users that hackers had been trying to break into his various online accounts recently.
“Attackers have been trying to take control of my email, social media, Google, Apple, etc. this past week. If you see anything suspect (token launch, soliciting funds, etc) that means they got through. be careful out there,” Gokal cautioned.
Is Solana Co-Founder’s Data Leak Linked to the Coinbase Breach?
Meanwhile, the nature of the leaked images suggested that they could be Know Your Customer (KYC) verification files. This has sparked concerns about a possible link to the recent Coinbase data breach.
“If they have the KYC for the founders of Solana, then they have the KYC for every single person that ever used their platform and this wasn’t even the KYC information like their address, it was the photos from the self verification you have to do when you send a picture of yourself with your passport this is like 10 times worse than a regular KYC leak,” an analyst wrote.
Despite the speculation, no concrete evidence yet ties Coinbase to Gokal’s data leak. Meta has not issued a public statement regarding the incident. Moreover, Gokal has yet to comment officially on the breach.
