Julio Moreno, head of research at the CryptoQuant platform, revealed that the price of XRP may face downward pressure in the short term, as the conversion rate of the largest holders of the currency (whales) transferring large amounts of XRP to exchanges increases.
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🔍 Key Points in the Analysis:
🐋 Whale Flow to Exchanges
The average monthly flows of whales to exchanges increased from 141 million XRP at the beginning of July to 260 million XRP currently.
This pattern is considered a signal of a potential large sell-off 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 flows to exchanges.
📈 The Opposite Scenario
A decline in XRP reserves on exchanges may coincide with rising prices, as happened last year after the reelection of U.S. President Donald Trump, particularly on the Upbit exchange.
💼 Other Influential Moves
Before recording the recent historical peak, Chris Larsen, co-founder of Ripple, transferred about 50 million XRP to exchanges, equivalent to approximately $140 million.
Whale activity was not limited to XRP, as other currencies like Bitcoin also saw huge transactions, including the sale of $9 billion worth of BTC by an investor from the 'Satoshi' era.
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📌 Summary:
An increase in XRP flows from whales to exchanges is often a negative signal in the short term.
But conversely, a decline in these flows may support the rise.
Close monitoring of whale activity is essential to predict the next price movement.
⚠️ This analysis is for informational purposes and should not be considered investment advice.
#CryptoWhaleWatch 🐋📉