This Ripple (XRP) Metric Flashes Critical Warning Sign
Main Idea
XRP is facing potential downward pressure due to whale outflows and technical indicators, despite recent gains and increasing institutional adoption.
Key Points
1. XRP's 90-day moving average whale flow has turned negative, indicating sustained outflows from major wallets.
2. XRP's July rally saw a 70% increase, briefly reaching $3.40, but this may have been a bull trap.
3. On-chain data shows a decline in exchange reserves from 3.02 billion to 2.3 billion since July 24, alongside a 44% surge in the NVT ratio.
4. XRP is currently trading at $3.30, up 10.8% in 24 hours and 42% monthly, but concerns remain about a deeper correction.
5. Institutional adoption is increasing, with South Korean custodian BDACS launching XRP custody services.
Description
Ripple’s native token, XRP, could be facing significant challenges, as recent on-chain data indicates a sharp decline in whale flows, which is typically considered a warning sign for significant price corrections. Large holders are unloading tokens at a pace not seen since February’s local top, raising concerns that the current consolidation above $2.70 may give way to deeper downside unless buyer momentum returns. Technical Pressure Meets Whale Exodus Data from CryptoQuant, highlighted by pseud...
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