Julio Moreno, head of research at CryptoQuant, revealed that the price of XRP may face downward pressure in the short term, as the rate of conversion by the largest holders of the currency (whales) increases towards exchanges.
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🔍 Key points in the analysis:
🐋 Whale inflows to exchanges
The average monthly whale inflows to exchanges increased from 141 million XRP at the beginning of July to 260 million XRP currently.
This pattern is considered a signal for the potential start of large sell-offs by major holders.
📆 Previous examples
On July 18, whales transferred 660 million XRP to exchanges, causing the price to drop from $3.65 (the highest price in 7 years) to $3 within a week.
Last July, the price of XRP also dropped after a sudden increase in whale inflows to exchanges.
📈 The opposite scenario
A decrease in XRP reserves on exchanges may coincide with rising prices, as happened last year after the re-election of U.S. President Donald Trump, particularly on the Upbit exchange.
💼 Other influential movements
Before recording the recent historic peak, Chris Larsen, co-founder of Ripple, transferred about 50 million XRP to exchanges, equivalent to approximately $140 million.
Whale activity has not been limited to XRP, as other coins like Bitcoin have seen massive trades, including the sale of $9 billion in BTC by a 'Satoshi' era investor.
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📌 Summary:
An increase in XRP inflows from whales to exchanges is often a negative signal in the short term.
However, conversely, a decrease in these inflows may support a rise.
Close monitoring of whale activity is essential to predict the next price movement.
⚠️ This analysis is for informational purposes only and should not be considered investment advice.
#CryptoWhaleWatch 🐋📉