$XRP whale inflows to Binance have reportedly reached a six-month high, with cumulative inflows over the past 30 days estimated at around 1.6 billion XRP.
The increase shows that larger amounts of XRP have been moving onto exchanges, which can increase short-term available supply. However, exchange inflows alone do not confirm that whales intend to sell, as tokens can also be moved for trading, liquidity management or other purposes.
XRP has also seen stronger buying activity across exchanges, while the token recently traded around $1.44 after gaining more than 5% over 24 hours...
The combination of rising whale inflows and stronger buying pressure creates a mixed market picture, making exchange flows, trading volume and price action important indicators to watch.
$XRP
#xrp
The increase shows that larger amounts of XRP have been moving onto exchanges, which can increase short-term available supply. However, exchange inflows alone do not confirm that whales intend to sell, as tokens can also be moved for trading, liquidity management or other purposes.
XRP has also seen stronger buying activity across exchanges, while the token recently traded around $1.44 after gaining more than 5% over 24 hours...
The combination of rising whale inflows and stronger buying pressure creates a mixed market picture, making exchange flows, trading volume and price action important indicators to watch.
$XRP
#xrp