XRP Faces Potential Weakness Without Whale Inflows Exceeding 5 Million Tokens, Analyst Cautions
Main Idea
XRP faces potential price weakness due to significant whale sell-offs, with analysts warning of a 30% drop if inflows do not exceed 5 million tokens daily and if the price fails to hold above $2.65.
Key Points
1. Whales have offloaded 640 million XRP tokens in the past month, valued at $1.91 billion, raising concerns about market stability.
2. Analysts suggest XRP must hold above the $2.65 support level to avoid a significant price drop, potentially towards the 50-week EMA at $2.06.
3. Bearish divergence on the charts indicates weakening momentum for XRP, with current market dynamics showing reduced upside potential.
4. The recent whale sell-offs reflect a potential risk for retail investors, as XRP's price often correlates with whale activity.
Description
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