CryptoQuant Warns: XRP Whales Moving Millions to Exchanges May Trigger Price Drop
XRP, the cryptocurrency often associated with Ripple, may face short-term market pressure as large holders, or “whales,” move significant amounts of tokens to exchanges. According to Julio Moreno, Head of Research at CryptoQuant, these movements often indicate potential price inflections.
“Sudden and increasing whale flows into exchanges may indicate an inflection for prices as large holders may start selling on the exchange,” Moreno said in a statement to CryptosNewss.
Data from CryptoQuant shows that the 30-day moving average of XRP whale inflows to exchanges has climbed to 260 million tokens, up from 141 million at the start of July. This significant uptick in activity was initially highlighted by pseudonymous analyst The Enigma Trader.
Whale behavior has historically influenced XRP’s market performance. Last month, the token price surged to $3.65—a seven-year high—before dropping to $3, coinciding with 660 million XRP moved by whales to exchanges on July 18.
Despite the bearish implications of these inflows, Moreno also noted that the trend can signal bullish potential. For example, last year XRP’s price rose during President Donald Trump’s reelection, a period marked by declining exchange reserves, especially on Upbit, one of the largest XRP trading platforms.
Meanwhile, co-founder Chris Larsen reportedly moved 50 million XRP to exchanges before XRP’s recent price peak. Blockchain investigator ZachXBT estimated that over $140 million worth of Larsen’s XRP made it onto trading platforms.
This shift in whale behavior isn't limited to XRP. Other digital assets, including Bitcoin, are seeing similar patterns. Last month, Galaxy Digital announced it executed a $9 billion Bitcoin sale on behalf of a Satoshi-era investor, highlighting renewed whale activity across the board.
As the crypto market remains highly sensitive to whale activity, traders and investors will be watching XRP’s on-chain metrics closely in the coming weeks.
The post appeared first on CryptosNewss.com
#xrp $XRP
“Sudden and increasing whale flows into exchanges may indicate an inflection for prices as large holders may start selling on the exchange,” Moreno said in a statement to CryptosNewss.
Data from CryptoQuant shows that the 30-day moving average of XRP whale inflows to exchanges has climbed to 260 million tokens, up from 141 million at the start of July. This significant uptick in activity was initially highlighted by pseudonymous analyst The Enigma Trader.
Whale behavior has historically influenced XRP’s market performance. Last month, the token price surged to $3.65—a seven-year high—before dropping to $3, coinciding with 660 million XRP moved by whales to exchanges on July 18.
Despite the bearish implications of these inflows, Moreno also noted that the trend can signal bullish potential. For example, last year XRP’s price rose during President Donald Trump’s reelection, a period marked by declining exchange reserves, especially on Upbit, one of the largest XRP trading platforms.
Meanwhile, co-founder Chris Larsen reportedly moved 50 million XRP to exchanges before XRP’s recent price peak. Blockchain investigator ZachXBT estimated that over $140 million worth of Larsen’s XRP made it onto trading platforms.
This shift in whale behavior isn't limited to XRP. Other digital assets, including Bitcoin, are seeing similar patterns. Last month, Galaxy Digital announced it executed a $9 billion Bitcoin sale on behalf of a Satoshi-era investor, highlighting renewed whale activity across the board.
As the crypto market remains highly sensitive to whale activity, traders and investors will be watching XRP’s on-chain metrics closely in the coming weeks.
The post appeared first on CryptosNewss.com
#xrp $XRP
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XRP
3.0789
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