The post XRP whale transactions rise despite 18% price drop; Rebound imminent? appeared on BitcoinEthereumNews.com.

With the XRP (XRP) price experiencing a negative trend in the previous days, most investors would be inclined to stay away from this investment, but not according to whale holders, who maintain their position. Cryptocurrency analyst Ali Martinez notes even in the face of an 18% price dip for XRP over the past ten days, it’s intriguing to observe a noteworthy surge in whale transactions and their accumulated holdings.  This activity surge among major crypto investors raises speculation that it could serve as a harbinger of a potential price rebound for XRP, as per his post on X on November 17. “Despite XRP‘s 18% price drop over the past 10 days, there’s a notable uptick in whale transactions and their holdings. This growing interest from major players could be a precursor to an XRP price rebound,” Ali stressed. XRP whale transaction activity chart. Source: ali_charts The increased involvement of these influential entities suggests a growing confidence or strategic positioning that may influence the broader market sentiment and contribute to a positive shift in XRP’s valuation. Recent developments regarding XRP Recent news of fake BlackRock filing for an XRP exchange-traded fund (ETF) highlights traders’ eagerness to invest in this digital asset. After the news broke out, the price of XRP surged by 10% in a single day, driving its value toward the level of $0.69. Another notable development in November is that Ripple has deviated from its observed pattern of selling unlocked XRPs in weekly batches, marking the first instance since August. The most recent sell-off of 60 million XRP ($39 million) occurred on November 6, and it has been 11 days since this transaction. XRP price analysis At the time of press, the XRP price stood at $0.60, which marks a negative change of -5.57% in the previous 24 hours,…

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Filed under: News - @ November 17, 2023 5:14 pm