XRP whale withdraws 231M as ETFs add $28M – Who’s right?
If 231 million XRP left Binance for accumulation, why did sellers retain control?#CryptoNewss
$XRP
$WIF
$ID
#Market_Update
A key decider could be forming for XRP’s next move.
After a week of strong inflows, the market is at a crossroads. The fundamental question is whether this marks the beginning of a broader sell-off or a consolidation phase ahead of the next leg higher.
XRP’s price action provides some clues as to what may happen next.
In technical terms, XRP was one of the best performers in the risk-on environment that characterized the market throughout the past week. It rose sharply by 53%, closing the week at $1.50.
However, a 7% pullback this week has pushed XRP back toward $1.40, leaving many market participants wondering what will happen next. And a closer look at the chart reveals several potential warning signs.
To begin with, the decline in the price of Ripple [XRP] is an isolated event.
Among the major cryptoassets, only XRP is negative this week, whereas the likes of Solana [SOL] have already recorded gains of over 6%. This dynamic suggests that the weakness in XRP is more of an “asset-specific” phenomenon, rather than a sign of a broader market downturn.
Against this background, it’s no wonder that the recent whale activity around XRP has split the market.
While some argue that the large sell-off is only another market manipulation attempt by whales, others believe that the activity is consistent with accumulation.
However, given the weakness in XRP’s price action, the manipulation case cannot be ruled out, raising the question: Could this whale activity be the key factor deciding whether XRP breaks $1.5?
If 231 million XRP left Binance for accumulation, why did sellers retain control?#CryptoNewss
$XRP
$WIF
$ID
#Market_Update
A key decider could be forming for XRP’s next move.
After a week of strong inflows, the market is at a crossroads. The fundamental question is whether this marks the beginning of a broader sell-off or a consolidation phase ahead of the next leg higher.
XRP’s price action provides some clues as to what may happen next.
In technical terms, XRP was one of the best performers in the risk-on environment that characterized the market throughout the past week. It rose sharply by 53%, closing the week at $1.50.
However, a 7% pullback this week has pushed XRP back toward $1.40, leaving many market participants wondering what will happen next. And a closer look at the chart reveals several potential warning signs.
To begin with, the decline in the price of Ripple [XRP] is an isolated event.
Among the major cryptoassets, only XRP is negative this week, whereas the likes of Solana [SOL] have already recorded gains of over 6%. This dynamic suggests that the weakness in XRP is more of an “asset-specific” phenomenon, rather than a sign of a broader market downturn.
Against this background, it’s no wonder that the recent whale activity around XRP has split the market.
While some argue that the large sell-off is only another market manipulation attempt by whales, others believe that the activity is consistent with accumulation.
However, given the weakness in XRP’s price action, the manipulation case cannot be ruled out, raising the question: Could this whale activity be the key factor deciding whether XRP breaks $1.5?
