XRP Price Faces Potential Short-Term Pressure Amid Increased Whale Activity, Analysts Suggest
Main Idea
XRP's price may experience short-term pressure due to increased whale activity, including large transfers to exchanges, despite recently reaching an all-time high.
Key Points
1. Whale inflows to exchanges rose from 141 million to 260 million XRP in July, with 660 million tokens moved on July 18, impacting the price.
2. XRP reached an all-time high of $3.65, driven by positive market sentiment and reduced exchange reserves, including a 50 million XRP transfer by Ripple co-founder Chris Larsen.
3. Increased whale inflows to exchanges often precede price drops, as noted by CryptoQuant's Head of Research Julio Moreno.
Description
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