XRP Bearish Signal: Whales Offload $486 Million In Tokens

Recent on-chain data reveals that XRP whales have sold 160 million tokens, approximately worth $486 million, over the past two weeks. This action could negatively impact the asset's price.

Key Points

XRP whales are defined as addresses holding between 1 million and 10 million tokens, equivalent to $2.99 million to $29.9 million at current rates.
The selling began during a recent price surge to $3.1, indicating profit-taking by large investors.
Continued whale selling may lead to further price declines.
However, a potential rebound is indicated by the Tom Demark (TD) Sequential, which has signaled a reversal with nine consecutive red candles on XRP's 4-hour chart.

XRP Price

Currently, XRP is trading around $3.02, experiencing a decrease of nearly 1% in the last 24 hours.

XRP Price Chart