#xrp Market Slight Pullback, Whale Actions Draw Attention
In the last 24 hours, the crypto market has slightly declined, with traders watching Federal Reserve Chairman Powell's speech in Jackson Hole, anticipating policy direction.
XRP Current Situation
Price: $2.89
24-Hour Trading Volume: $6.74 Billion
Dropped 4% in the past day, down 11% in a week
The July rebound once surged above $3.60, but the recent price has narrowed
Whale Movements
Analyst Ali Martinez discovered that in the past 10 days, whales sold approximately 470 million XRP
There is a clear sell-off on exchanges, especially Binance, with a significant increase in XRP flowing into exchanges from the end of July to August
The largest single transfer once exceeded 100 million XRP, and recently another 11.8 million XRP flowed into Binance
These actions have put short-term pressure on the market
Buying and Selling Dynamics
Before the sell-off, whales bought a large amount at low levels, acquiring approximately 320 million XRP in three days, worth nearly $1 billion
This shows that whales are still the core force in the supply and demand of XRP
They buy when prices are weak, providing support, but the continuous inflow of funds to exchanges may drag down short-term trends.
