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XRP Whales Selling $50 Million Daily Amidst Persistent Pressure
The 30-day netflow of XRP whales has been significantly negative, indicating continued selling pressure.
XRP Whale Flow Overview
- XRP whales have been offloading an average of $50 million per day recently.
- This persistent selling pressure might explain the lack of significant rallies in XRP compared to other cryptocurrencies.
The 30-day moving average (MA) of the XRP Whale Flow shows a strong negative trend since July, when XRP reached over $3.6.
Analyst Ali Martinez has identified a potential key support level at $2.73, which could lead to a rebound if it holds.
XRP Technical Analysis
- The coin is trading within a Parallel Channel between $2.73 and $3.10.
- If the support level at $2.73 holds, there may be a rebound towards $3.10.
Current XRP Price
XRP is currently trading around $0.745, experiencing a decline of more than 11% over the past week.
