XRP Faces Bearish Sentiment as Whale Activity Signals Potential Distribution Phase
Main Idea
XRP is experiencing bearish sentiment due to significant sell-offs by whale wallets, with large holders selling approximately $6 billion worth of XRP recently.
Key Points
1. Whale wallets holding between 1 million to 1 billion XRP reduced their holdings from 10 billion to 8 billion, indicating a sell-off of approximately $6 billion.
2. The 90-day whale flow moving average flipped sharply negative, signaling a distribution phase from whales.
3. XRP's recovery depends on sustained positive netflows from whales and a reduction in bearish whale activity.
4. The Exchange Reserve on Binance has fallen from 3.009 billion to 2.88 billion XRP, representing an outward flow of XRP.
5. The 30DMA of whale to exchange flow saw a sharp uptick in January 2025, coinciding with XRP setting a new all-time high.
Description
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