On-chain data reveals an influx of XRP transfers from whales to Binance, raising concerns over a potential sell-off that might affect XRP's price. Whales are large investors exerting influence due to their substantial holdings, making their activities worth monitoring. High transactions to exchanges hint at profit-taking intentions.
The 7-day SMA for XRP Whale to Exchange Transactions showed a spike before XRP's recent rally beyond $3.3, suggesting strategic repositioning by whales. Despite XRP's strong 38% performance among major coins, recent sideways trading raises questions on when whales might offload their holdings.
XRP has been performing robustly, but this price stability amid whale activity remains under scrutiny as investors watch for indications of continued profit retention.
