XRP’s market activity has slowed considerably, with large-scale transactions sharply declining. On-chain data from the past 24 hours indicates that only 240 million XRP was transferred, marking a significant drop in high-value transactions.
This suggests that major market participants, commonly called whales, are refraining from making substantial moves, which could influence XRP’s short-term price behavior.
Whale Transactions at a Low Point
Historically, heightened whale activity has been associated with notable price fluctuations in the market. However, the recent data indicates that key players are currently inactive. The absence of major transactions may indicate a period of market consolidation, where institutional and high-net-worth investors choose to hold their assets rather than engage in significant buying or selling. This could reduce speculative pressure, leaving price action largely in the hands of retail traders and smaller investors.
XRP Price Remains Stabile
Despite the apparent drop in whale transactions, The asset’s price has remained relatively stable. According to data from CoinMarketCap, the asset has recorded only a 0.9% decline over the last 24 hours.
Meanwhile, the broader cryptocurrency market has shown mixed trends, with some assets experiencing losses while others have posted gains. Notably, the total market capitalization of XRP has increased by 1% in the same period, suggesting that confidence in the network remains intact despite the slowdown in whale activity.
Performance Against Bitcoin and Market Sentiment
A broader perspective on XRP’s market behavior reveals that its price has performed well against Bitcoin in recent months. Since November 2024, the token has gained over 290% against BTC, demonstrating strong resilience despite fluctuations in whale activity. This suggests that long-term holders and the community remain committed to the asset, which could help future price movements.
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Additionally, an important on-chain metric signals growing confidence among mid-tier investors. Over the past 10 weeks, more than 260 new wallets hold at least 100,000 XRP. This increase in mid-sized holdings indicates that key stakeholders are accumulating XRP, potentially in anticipation of future price growth.
Market Outlook
The current decline in whale transactions raises questions about potential market trends in the coming weeks. If major investors remain on the sidelines, XRP’s price could be more influenced by retail activity and broader market sentiment. However, the steady increase in mid-tier holdings and XRP’s strong performance against Bitcoin suggest that market participants remain optimistic about its long-term potential.
As market conditions evolve, the re-emergence of whale activity could be a key factor in determining the next major price movement.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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