The slowdown in whale activity, particularly regarding XRP ($1.41 · Live) in the cryptocurrency market, may indicate potential selling pressure. Analyses based on onchain data reveal a significant decrease in the pace of asset withdrawals from exchanges by large investors recently.
According to analyst Arab Chain, who shares his findings on the crypto analytics platform CryptoQuant, the net outflow of XRP by whales over the past 30 days has dropped to approximately 1.2 billion. This figure is the lowest recorded since February. Generally, large investors withdrawing their assets from exchanges is considered a positive signal indicating a long-term holding intention.
However, the fact that some large investors continue to hold their XRP assets on exchanges in the current situation opens the door to a different interpretation. According to experts, this may indicate that investors are closer to selling or that their commitment to long-term holding has weakened.
The analysis also noted that this trend emerged during a period when the XRP price was relatively low. This suggests that investors preferred a wait-and-see strategy rather than making new purchases.
Arab Chain notes that if whale outflows don’t regain momentum, the market could become more vulnerable to selling pressure. Experts emphasize that such on-chain data can influence short-term price movements, and investors should closely monitor market dynamics.
*This is not investment advice.
Continue Reading: Slowdown in Whale Movements, Specifically XRP, in the Cryptocurrency Market! Is a Sell-Off Coming? Here Are the Details