Retail Traders Sell as Whales Accumulate Massive XRP Holdings, What Does It Mean?
The post Retail Traders Sell as Whales Accumulate Massive XRP Holdings, What Does It Mean? appeared on BitcoinEthereumNews.com.
Whale wallets have accumulated 453.3M XRP in a week, signaling strong confidence among major stakeholders. Retail investors sold 75.7M XRP, while whale activity and network adoption highlight XRP’s growing utility. XRP is surpassing its three-year high and reaching $1.2679 on the Binance exchange. Fueled mostly by the planned efforts of major investors, sometimes known as “whales” and “sharks,” this notable price increase hits the highest level since November 11, 2021. Over the previous week, wallets containing between one million and 100 million XRP have amassed an amazing 453.3 million tokens, valued at around $526.3 million overall. XRP’s price has been rising mostly thanks to this significant accumulation, as these important players have a positive view of the crypto. Retail Selling and Network Growth Drive XRP Dynamic Concurrent with this rise in big-scale ownership, small retail investors have shown substantial selling activity. Over the same period, wallets containing fewer than one million XRP have sold 75.7 million tokens, valued around $87.9 million overall, according to Santiment. 🥳📈 XRP has now broken a 3-year high, reaching $1.2679 on Binance for the first time since November 11, 2021. This rally has come on the backs of key whale & shark wallets that hold between 1M-100M tokens. This group has collectively accumulated 453.3M more tokens (worth… pic.twitter.com/8F0IjXs7A5 — Santiment (@santimentfeed) November 16, 2024 This pattern emphasizes a well-known dynamic in the crypto market whereby major players seize possibilities while lesser investors respond to temporary volatility. Historically, these kinds of situations usually result in positive market cap growth for the asset in issue since more confidence among big investors improves general sentiment. XRP has seen an increase in network activity, adding to the momentum. With an average of 12,230 active addresses daily, October 2024 saw active address counts peak six months ago. Particularly as the…
Filed under: News - @ November 18, 2024 8:18 am