This XRP Whale Bet $224,000 On Sideways Trading For The Next Month—The Chart Says 'You're Wrong'

Benzinga05-21

A crypto whale has made a $224,000 bet that XRP (CRYPTO: XRP) stays pinned near $1.40 through June 26 by selling both call and put options in a short strangle strategy on Deribit.Whale Collected $224,...

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The bill now moves to a full Senate vote.Stuart Alderoty, Ripple’s chief legal officer, called the committee’s decision a “monumental outcome” protecting 67 million American crypto holders. XRP is seen as a U.S. crypto play since Ripple is based in San Francisco.Ripple also received conditional approval from the Office of the Comptroller of the Currency to establish Ripple National Trust Bank, further cementing its U.S. regulatory positioning.Chart Shows Third Test Of Critical Trendline SupportXRP sits flat at $1.36, grinding along ascending trendline support that has held every low since February’s $1.11 bottom.  This marks the third test of that trendline—the most critical one.The entire EMA stack sits overhead as resistance. The 20 EMA at $1.4048, 50 EMA at $1.4103, and 100 EMA at $1.4811 are all declining and stacked against recovery. Moreover, SAR at $1.4983 confirms the daily trend flipped bearish.The resistance at $1.55 has rejected price consistently since February, defining the range ceiling. Trendline support sits at $1.35 to $1.37 and must hold on close. Image: ShutterstockMarket News and Data brought to you by Benzinga APIs© 2026 Benzinga.com. Benzinga does not provide investment advice. 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