Can $XRP Hit $6.40 After Grayscale's CEO Sells XRP ETF Shares?

XRP is trading around $1.08 today, down about 1% over the past 24 hours. The token has a market cap near $67.56 billion, based on data from CoinGlass.

Trading volume sits at $2.11 billion, which is down 18.74% from the day before. Open interest, or the total value of open futures contracts, is at $2.45 billion.

Traders are now asking if the altcoin can start a bigger move. Some chart watchers point to a possible run toward $6.40 in the coming months.

What do the futures and long-short numbers show for XRP?

Derivatives data gives a mixed picture right now.

On Binance, the long-short account ratio is 2.64, meaning more accounts are betting on a price rise than a fall. On OKX, that ratio is 3.06.

Top traders on Binance show a long-short ratio of 3.07 by account and 1.60 by position size. This suggests bigger traders are more cautious than smaller retail accounts.

Liquidation data shows $1.86 million in total rekt over the past 24 hours. Long positions took the bigger hit at $1.21 million, compared to $654.65K for shorts.

Why are some traders talking about a $6.40 or $30 target?

A widely shared chart from analyst account EGRAG CRYPTO lays out a "macro retest" pattern for XRP.

The analysis points to a green target of $6.40 as the first major measured-move level. A white target of $30 is described as the full macro move, but only if the coin can hold above its prior highs first.

This kind of measured-move analysis is a common technical tool. It is not a guarantee of price direction, and traders should treat it as one opinion among many.

Is XRP adoption still growing despite flat prices?

Data from Santiment shows holder counts continuing to climb even as prices stay range-bound.

The XRPL crossed 8 million non-empty wallets for the first time in the past two weeks. Ethereum crossed 200 million non-empty wallets, and USDC on Ethereum also passed 8 million. Chainlink crossed 900,000 holders.

Rising wallet counts do not always mean rising prices right away. But they can point to more people holding or using a network over time.

Separately, SoSoValue reported a net inflow of $584.71K into XRP-related funds, a modest but positive sign for demand.

Why did Grayscale's CEO sell some of his XRP ETF shares?

Grayscale CEO Peter Mintzberg trimmed his personal stake in the GXRP XRP ETF for the first time.

An SEC filing shows he sold 2,611 shares worth about $53,394 through Cantor Fitzgerald. After the sale, Mintzberg still holds roughly 2.84 million GXRP shares.

He originally received these shares directly from the issuer in a private cash deal back in October 2024.

The sale comes at a time when XRP ETF inflows have slowed overall. GXRP remains down more than 50% for the year so far.

XRP Price Prediction: What could move Ripple price next?

The altcoin sits at a mix of crosscurrents right now. Futures volume is falling, but long-short ratios lean bullish on most exchanges. Holder growth is steady, but ETF flows are soft, and an insider just sold shares.

The $6.40 and $30 levels from chart analysts are far above current prices and depend on breaking well above recent highs first. Until that happens, these numbers remain targets, not certainties.

Short-term price action will likely depend on whether it can hold support and whether ETF demand picks back up.

Disclaimer

This article is for informational purposes only and should not be considered financial or investment advice. Always do your own research and consult a licensed financial advisor before making any investment decisions. Past performance does not guarantee future results.