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Cryptocurrency whales are shedding XRP at record rates.
The rate at which XRP reserves in whale wallets are depleting has reached a peak, at times exceeding 180 million XRP per day worth $414 million at the current exchange rate (inflow and outflow of XRP from whale crypto wallets).
Simultaneously, employees of the research company CryptoQuant have recorded an increase in XRP on the balance of the largest cryptocurrency exchange by trading volume, Binance. At the beginning of March, the reserves of digital assets on this platform sharply increased by 6.6% to 2.9 billion XRP worth $6.7 billion. In this regard, it can be assumed that whales are sending tokens to exchanges for subsequent sale, wishing to lock in profits.
Considering the behavior of the big players, which provoked the dump of the XRP price, market analyst under the pseudonym Dom predicts the continuation of the bearish trend, due to which the coin is expected to drop in price to $2.2 in the near future. After the price of XRP plummeted by 27% following the end of the Trump pump, the value of the cryptocurrency corrected to $2.3, but according to Dom's statement, the downward trend will resume soon, resulting in the XRP price dropping to $2.2 or even lower.$XRP
The rate at which XRP reserves in whale wallets are depleting has reached a peak, at times exceeding 180 million XRP per day worth $414 million at the current exchange rate (inflow and outflow of XRP from whale crypto wallets).
Simultaneously, employees of the research company CryptoQuant have recorded an increase in XRP on the balance of the largest cryptocurrency exchange by trading volume, Binance. At the beginning of March, the reserves of digital assets on this platform sharply increased by 6.6% to 2.9 billion XRP worth $6.7 billion. In this regard, it can be assumed that whales are sending tokens to exchanges for subsequent sale, wishing to lock in profits.
Considering the behavior of the big players, which provoked the dump of the XRP price, market analyst under the pseudonym Dom predicts the continuation of the bearish trend, due to which the coin is expected to drop in price to $2.2 in the near future. After the price of XRP plummeted by 27% following the end of the Trump pump, the value of the cryptocurrency corrected to $2.3, but according to Dom's statement, the downward trend will resume soon, resulting in the XRP price dropping to $2.2 or even lower.$XRP
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