CoinVoice has learned that according to CryptoQuant's research director Julio Moreno, as XRP large holders accelerate the transfer of assets to trading platforms, the token price may face short-term pressure. 'The sudden acceleration of whale funds flowing into trading platforms may indicate a price turning point, as these large holders may start to sell,' Moreno stated.
CryptoQuant data shows that as of Thursday, the 30-day moving average of XRP whales transferring to trading platforms has increased from 141 million coins in early July to 260 million coins.
Whale activity has a significant impact on market sentiment. Moreno added that XRP's price fell after a surge in whale fund inflows in July. Notably, on July 18, the day it hit an all-time high, XRP whales transferred 660 million tokens to trading platforms, and the price fell back to $3 the following week. [Original link]
