At $XRP , the picture is interesting right now: new money for buying has appeared at the same time as potential supply.
Evernorth received a commitment for $30 million in convertible financing from NH Investment & Securities. The company plans to use the capital, in part, to acquire $XRP ahead of a potential Nasdaq listing under the ticker XRPN. But the important detail is this: this is not yet $30 million of buying $XRP today.
At the same time, on September 17, spot XRP ETFs recorded an outflow of $5.15 million. And large wallets transferred about 1.6 billion XRP to Binance over the past 30 days - the highest level in about six months. This increases potential supply on the exchange, but does not automatically mean selling.
That’s the beauty of the crypto market: one signal says “capital is coming in,” while another says “some major players are moving coins closer to the exchange.”
Right now, I’d watch not one indicator, but which of these flows starts to dominate.
If you want to make sense of such conflicting signals without the “BULLISH!!!” shouting, subscribe to @MoonMan567
Evernorth received a commitment for $30 million in convertible financing from NH Investment & Securities. The company plans to use the capital, in part, to acquire $XRP ahead of a potential Nasdaq listing under the ticker XRPN. But the important detail is this: this is not yet $30 million of buying $XRP today.
At the same time, on September 17, spot XRP ETFs recorded an outflow of $5.15 million. And large wallets transferred about 1.6 billion XRP to Binance over the past 30 days - the highest level in about six months. This increases potential supply on the exchange, but does not automatically mean selling.
That’s the beauty of the crypto market: one signal says “capital is coming in,” while another says “some major players are moving coins closer to the exchange.”
Right now, I’d watch not one indicator, but which of these flows starts to dominate.
If you want to make sense of such conflicting signals without the “BULLISH!!!” shouting, subscribe to @MoonMan567
