$XRP On-chain data over the past two days is pointing in opposite directions.
On one side, balances held on exchanges are declining. The latest figures show a net outflow of 226 million XRP from exchanges, while whale address activity has returned to levels last seen in 2022.
On the other side, there’s activity from on-chain addresses themselves. On November 1, 7,934 new addresses were added in a single day, ranking sixth among the highest daily totals this year.
Some holders are moving coins off exchanges while new addresses are entering the market. When both happen at once, it usually means tokens are changing hands. Yet the price has barely reacted, edging up slightly over 24 hours and holding around $1.25.
Whales moving coins off exchanges commonly points to one of two intentions: either they plan to hold for the long term, or they’re looking for a better time to sell. The sudden appearance of new addresses looks more like buyers testing the waters in stages.
The two sides point in different directions. For now, these figures are just something to keep an eye on as they develop; they don’t establish a clear trend.
#XRP #On-chain data
On one side, balances held on exchanges are declining. The latest figures show a net outflow of 226 million XRP from exchanges, while whale address activity has returned to levels last seen in 2022.
On the other side, there’s activity from on-chain addresses themselves. On November 1, 7,934 new addresses were added in a single day, ranking sixth among the highest daily totals this year.
Some holders are moving coins off exchanges while new addresses are entering the market. When both happen at once, it usually means tokens are changing hands. Yet the price has barely reacted, edging up slightly over 24 hours and holding around $1.25.
Whales moving coins off exchanges commonly points to one of two intentions: either they plan to hold for the long term, or they’re looking for a better time to sell. The sudden appearance of new addresses looks more like buyers testing the waters in stages.
The two sides point in different directions. For now, these figures are just something to keep an eye on as they develop; they don’t establish a clear trend.
#XRP #On-chain data
