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CryptoQuant Research Director: XRP Whales Accelerating Token Transfer to CEX, Price May Face Short-Term Pressure
Summary: In a recent report, CryptoQuant research director Julio Moreno pointed out that as large XRP holders accelerate the transfer of assets to exchanges, the token's price may face short-term pressure. The sudden influx of whale funds into exchanges may signal a price turning point, as these large holders may begin selling. Moreno stated. CryptoQuant data ...
In a recent report, CryptoQuant research director Julio Moreno pointed out that as large XRP holders accelerate the transfer of assets to exchanges, the token's price may face short-term pressure. The sudden influx of whale funds into exchanges may signal a price turning point, as these large holders may begin selling. Moreno stated.
CryptoQuant data shows that as of Thursday, the 30-day moving average of XRP whales transferring to exchanges has increased from 141 million coins in early July to 260 million coins.
Whale activity significantly impacts market sentiment. Moreno added that in July, XRP prices dropped after a surge in whale funds inflow. It is worth noting that on July 18, when XRP hit a historical high, whales transferred 660 million tokens to exchanges, and the price fell to $3 in the following week.
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Link: CryptoQuant Research Director: XRP Whales Accelerating Token Transfer to CEX, Price May Face Short-Term Pressure [Copy]
