$XRP In the latest on-chain data, price is the least important thing to look at first. What really needs unpacking is the nature of the outflow on October 29: it was not an ordinary round of whale selling, but an abnormal outflow driven by a security incident.
1. Unusual scale
On October 29, large transfers out totaled about 283 million tokens, while whale net outflows were about 226 million—around 2.72 times the previous record of about 83 million set in September 2022. TRM Labs tracked approximately 233.46 million tokens moving from five wallets to attacker-controlled addresses in about four minutes, between 20:05 and 20:09 UTC. Elliptic confirmed a figure in the same ballpark, at around 233 million. The two sets of figures corroborate each other: the bulk of the outflow consisted of the same stolen funds.
2. Suspension and resumption
On October 30, large outflows fell to about 14.7 million tokens, down approximately 94.8% from the previous day, coinciding with the suspension of withdrawals. After withdrawals gradually resumed on November 1, large outflows rebounded to about 80 million tokens, around 5.44 times the October 30 figure, while whale net outflows remained at roughly negative 50 million. The figures on the first day of resumed withdrawals look more like a surge of pent-up demand being released. Assets leaving exchanges also reduce the supply immediately available for selling.
3. New developments and price
On November 2, Whale Alert recorded a transfer of about 40 million tokens, worth approximately $50.46 million. Both the sending and receiving parties were labeled as wallets linked to this incident. This transfer does not prove that the assets have been sold; the next thing to watch is whether they reach an exchange address.
In the November 3, 08:13 UTC snapshot, $XRP was around $1.25, roughly flat over 24 hours, down about 3.3% over 7 days, and down about 16.4% over 30 days, trading in a range of roughly $1.24 to $1.26. The price has not weakened in step with the scale of the outflows, and the market is still watching to see what happens next with these funds.
Assessment: Watch two signals: first, whether the labeled wallets move funds to exchanges; second, whether large outflows fall from 80 million tokens back toward 14.7 million. The first will determine whether selling pressure materializes; the second will show whether this was a one-off event or sustained outflows.
#XRP #链上数据 $XRP
These are solely my personal views and do not constitute investment advice.
1. Unusual scale
On October 29, large transfers out totaled about 283 million tokens, while whale net outflows were about 226 million—around 2.72 times the previous record of about 83 million set in September 2022. TRM Labs tracked approximately 233.46 million tokens moving from five wallets to attacker-controlled addresses in about four minutes, between 20:05 and 20:09 UTC. Elliptic confirmed a figure in the same ballpark, at around 233 million. The two sets of figures corroborate each other: the bulk of the outflow consisted of the same stolen funds.
2. Suspension and resumption
On October 30, large outflows fell to about 14.7 million tokens, down approximately 94.8% from the previous day, coinciding with the suspension of withdrawals. After withdrawals gradually resumed on November 1, large outflows rebounded to about 80 million tokens, around 5.44 times the October 30 figure, while whale net outflows remained at roughly negative 50 million. The figures on the first day of resumed withdrawals look more like a surge of pent-up demand being released. Assets leaving exchanges also reduce the supply immediately available for selling.
3. New developments and price
On November 2, Whale Alert recorded a transfer of about 40 million tokens, worth approximately $50.46 million. Both the sending and receiving parties were labeled as wallets linked to this incident. This transfer does not prove that the assets have been sold; the next thing to watch is whether they reach an exchange address.
In the November 3, 08:13 UTC snapshot, $XRP was around $1.25, roughly flat over 24 hours, down about 3.3% over 7 days, and down about 16.4% over 30 days, trading in a range of roughly $1.24 to $1.26. The price has not weakened in step with the scale of the outflows, and the market is still watching to see what happens next with these funds.
Assessment: Watch two signals: first, whether the labeled wallets move funds to exchanges; second, whether large outflows fall from 80 million tokens back toward 14.7 million. The first will determine whether selling pressure materializes; the second will show whether this was a one-off event or sustained outflows.
#XRP #链上数据 $XRP
These are solely my personal views and do not constitute investment advice.
