{"id":605522,"date":"2024-04-29T08:50:54","date_gmt":"2024-04-29T08:50:54","guid":{"rendered":"https:\/\/ktsl888.com\/?p=605522"},"modified":"2024-07-12T06:13:33","modified_gmt":"2024-07-12T06:13:33","slug":"xrp-sees-over-12-million-sell-off-whale-warning-or-buying-opportunity","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/xrp-sees-over-12-million-sell-off-whale-warning-or-buying-opportunity\/","title":{"rendered":"XRP Sees Over $12 Million Sell-Off: Whale Warning Or Buying Opportunity?"},"content":{"rendered":"
This points to investors perhaps losing interest and a hesitation to trade XRP. Still, a single ray of optimism emerges from the darkness\u2014a rise in long-term holdings.<\/span> This increase shows that some investors choose to hang onto their assets despite the present volatility since they still see great long-term prospects for XRP. Supported by Ripple Labs, once-booming bitcoin XRP finds itself dangerously on a stormy sea of uncertainty. For the digital asset, recent weeks have been a stormy journey marked by a confluence of issues: regulatory scrutiny, declining investor confidence, and now, the terrible migration of big whales.<\/span> Deep-pocketed XRP holders, known as “whales,” have started selling large amounts of XRP, shaking the market. Based on on-chain statistics, a massive transfer worth perhaps more than $12 million\u2014valuated from the Bitvavo exchange\u2014vanishes into an anonymous wallet.<\/span> Such sizeable movements are often interpreted as a bearish signal, signifying a potential lack of faith among these influential investors and casting a dark cloud over XRP’s immediate future.<\/p>\n The negative undercurrents coursed through the market have shown up as a sharp drop in XRP price.<\/span> XRP is just $0.51 at the time of writing, a shockingly 16% decline over the previous month alone. This price plunge underscores XRP’s struggle to regain its footing amidst a broader market correction that has gripped the cryptocurrency space since May 2023.<\/p>\n One obvious drop in institutional interest is fueling the fears of fire.<\/span> Data points from Santiment reveal a clear reluctance among entities with large XRP reserves. <\/p>\n Usually classified as high-net-worth individuals or institutional actors, investors with holdings ranging from 100,000 to 100 XRP show indications of doubt.<\/span> This trend accentuates the general pessimistic attitude by further reducing the appeal of XRP on the market. Examining XRP’s on-chain statistics more closely reveals a troubling trend: a drop in both network growth and transaction speed.<\/span> Along with a declining transaction frequency, the acquisition of fresh users on the XRP network seems to be stagnate. This points to investors perhaps losing interest and a hesitation to trade XRP<\/a>. Still, a single ray of optimism emerges from the darkness\u2014a rise in long-term holdings.<\/span> This increase shows that some investors choose to hang onto their assets despite the present volatility since they still see great long-term prospects for XRP.
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\n<\/span><\/p>\nXRP Whale Exodus Sparks Fear<\/strong><\/h2>\n
\n<\/span><\/p>\nSource: Whale Alert\/X<\/pre>\n
XRP Price Takes A Tumble <\/strong><\/h2>\n
\n<\/span><\/p>\nInstitutional Investors Lose Their Appetite For XRP <\/strong><\/h3>\n
\n<\/span><\/p>\nXRP market cap currently at $27.7 billion. Chart: TradingView.com<\/a><\/pre>\n
\n<\/span><\/p>\nOn-Chain Metrics Signal Trouble On The Horizon<\/strong><\/h3>\n
\n<\/span><\/p>\nXRP 24-hour price action. Source: CoinMarketCap<\/a><\/pre>\n
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