XRP Whales Increase Accumulation Amid Market Hesitation
- XRP whales have shifted from distribution to accumulation, with the Whale Flow 30-day moving average turning positive after over three months.
- Whale buying activity has reached its highest level in approximately ten months, with purchases exceeding 11 million XRP daily.
- XRP’s price recently rebounded from a key support level of $1.28, currently valued at $1.33.
- Exchange outflows for XRP have increased, reducing the circulating supply and easing short-term selling pressure.
- A significant XRP Ledger-focused event in Japan, featuring Ripple executives, aligns with the timing of the whale accumulation.
The recent surge in XRP whale accumulation coincides with a key support defense and reduced circulating supply, suggesting strategic positioning by large holders. This behavior contrasts with retail participants’ cautious approach amid market uncertainty.
With whales buying at unprecedented levels and an important event in Japan focusing on institutional adoption, these developments could influence future market dynamics for XRP. (Source)
