XRP Whale Activity Sparks Concerns Over Potential Sell-Off
- A significant increase in XRP supply across major exchanges has been observed, indicating potential selling pressure.
- The Exchange Supply Ratio suggests a possible whale sell-off, with increased availability of XRP tokens on platforms like Binance.
- XRP’s Taker Buy Sell Ratio is at its lowest since November, showing seller dominance in the futures market.
Recent data shows a spike in XRP supply on major exchanges, suggesting whales might be preparing for a sell-off. This is further supported by bearish signals from the futures market, where sellers are currently dominating.
With XRP hovering around $3 and experiencing a nearly 2% decline recently, market participants should monitor this level closely for potential price corrections. (Source)
