XRP Whale Flows Turn Negative as Large Holders Resume Distribution – XRP Price to Crash?
Main Idea
XRP is experiencing negative whale flows and bearish patterns, with large holders resuming distribution, leading to potential downward pressure on its price.
Key Points
1. XRP's whale flows have turned negative, resembling January's -48% crash pattern, with large holders distributing their holdings.
2. XRP is trading around $2.99 after peaking at $3.66 in July, showing structural vulnerability and declining trading volume.
3. A double-top pattern is forming at the $3.60 resistance level, threatening bullish momentum and potentially leading to a retest of the $2.70 support zone.
4. Ripple co-founder Chris Larsen's recent $175 million XRP sale has added to bearish sentiment, creating headwinds for price recovery.
5. Technical indicators suggest potential bullish pressure if XRP maintains above $2.90-$3.00, but failure could lead to further declines.
Description
XRP’s 90-day moving average whale flow has shifted dramatically into negative territory, indicating renewed distribution activity among major holders, a development that typically precedes bearish price movements. Data from CryptoQuant reveals a similar distribution pattern emerged during January and February, when XRP peaked near $3.45 before experiencing substantial whale selling pressure. This activity ultimately drove prices down to $1.77 by late February, representing a significant correcti...
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