XRP Supply Surge on Exchanges Indicates Potential Whale Sell-Off
Whale Activity and XRP Supply Surge
- XRP whales are showing a change in behavior, raising concerns about a potential sell-off.
- Market analyst CryptoOnchain highlighted an increase in the Exchange Supply Ratio for XRP.
- This spike suggests increased token availability on exchanges, indicating possible selling pressure.
- Exchanges like Bithumb, Bitget, Bitfinex, and Binance show increased XRP supply, posing a risk of price correction.
Bearish Divergence in XRP Futures Market
- CryptoOnchain reported a negative divergence in the XRP futures market using the Taker Buy Sell Ratio metric.
- This indicator shows a balance between aggressive buy and sell orders, currently favoring sellers.
- The 'Taker Ratio' has dropped to its lowest since November 2024, especially noted on Binance.
- The dominance of sellers and increased XRP exchange supply indicate a likely price correction.
- XRP is currently around $3, with a near 2% decline in the past 24 hours.
