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Title: Only 240 Million XRP in 24 Hours: Whales Are Not There
XRP has seen a remarkable surge over the past day, outpacing many other assets. This astonishing performance comes as a surprise to some market analysts who had predicted a downturn due to the recent decline in whale transactions. However, it appears that these long-term holders and community supporters have been quietly accumulating XRP, which has led to this impressive 9% increase over the past week.
In fact, the data reveals that only 240 million XRP was transferred between wallets within a 24-hour period, a stark contrast to the massive transactions typically seen from whales. This lack of large-scale activity suggests that these influential investors have not been actively buying or selling XRP, leaving room for smaller-scale traders and retail participants to drive the market.
Furthermore, since November 2024, XRP’s price against Bitcoin has surged by an impressive 297%, demonstrating remarkable resilience despite the decline in whale transactions. This trend highlights the strong foundation of long-term holders and community support, even as institutional-sized moves decrease.
Notably, a critical on-chain metric provides further evidence of XRP’s stability – there are now 261 more wallets holding 100,000+ XRP than there were 10 weeks ago. This growth in mid-tier holdings signals increased confidence from key stakeholders, who may be positioning themselves for future price appreciation.
In conclusion, the recent market performance and on-chain data suggest that whales have not been actively participating in XRP transactions, allowing smaller-scale traders to take control of the narrative.
Source: u.today
