๐ WHALES MOVE $XRP OUT OF THE EXCHANGES, AND THE PRICE IS FALLING: A SIGNAL OR NOISE?
According to CryptoQuant, the reserves on Binance and Upbit have shrunk by ~104.7M tokens ($XRP in total), and whales account for 77% of the outflows (81% on Binance) ๐ But the price hasnโt reacted: XRP slipped from $1.50โ1.52 to about $1.40 and fell below the 50-day moving average ($1.42โ1.43).
โ ๏ธ But flows go both ways: over 30 days, whales withdrew 1.38B XRP from Binance, yet 1.6B also entered, so the net outflow is much smaller than the loud figures. And a drop in reserves without price support is a weaker signal than a drop accompanied by stable price.
๐ Two scenarios:
๐บ Holding $1.40โ1.41 โ $1.50 / $1.55, SL below $1.33
๐ป Consolidation below $1.40 โ $1.33 / $1.28
Are whales accumulating, or just moving wallets around? ๐
#xrp #crypto #BinanceSquare
According to CryptoQuant, the reserves on Binance and Upbit have shrunk by ~104.7M tokens ($XRP in total), and whales account for 77% of the outflows (81% on Binance) ๐ But the price hasnโt reacted: XRP slipped from $1.50โ1.52 to about $1.40 and fell below the 50-day moving average ($1.42โ1.43).
โ ๏ธ But flows go both ways: over 30 days, whales withdrew 1.38B XRP from Binance, yet 1.6B also entered, so the net outflow is much smaller than the loud figures. And a drop in reserves without price support is a weaker signal than a drop accompanied by stable price.
๐ Two scenarios:
๐บ Holding $1.40โ1.41 โ $1.50 / $1.55, SL below $1.33
๐ป Consolidation below $1.40 โ $1.33 / $1.28
Are whales accumulating, or just moving wallets around? ๐
#xrp #crypto #BinanceSquare