XRP’s market activity has taken a noticeable downturn as whale transactions fall off. According to the latest on-chain data, only 240 million XRP moved in the last 24 hours, suggesting a significant drop in large-scale transactions. This decline in whale activity raises questions about potential market trends and XRP’s near-term price trajectory.
Historically, high transaction volumes involving XRP whales often correlate with major price swings. However, the latest figures show a drastic decline in large movements, indicating that key market players might be sitting on the sidelines. This lack of whale involvement could mean reduced speculative pressure, leaving XRP’s price action to retail traders and smaller investors.
Despite the apparent stagnation in whale movements, XRP’s price has remained relatively stable. The broader cryptocurrency market has shown mixed signals, but XRP Ledger’s market cap has managed to climb by 6% over the past day, outpacing many other assets. Over the past week, XRP has been among the few positive gainers, marking a 9% increase.
Related
Additionally, since November 2024, XRP’s price against Bitcoin has surged by an impressive 297%, highlighting strong resilience despite the current slowdown in whale transactions. This suggests that XRP’s long-term holders and community support remain intact, even as institutional-sized moves decline.
A critical on-chain metric further bolsters the case for XRP’s stability — there are now 261 more wallets holding 100,000+ XRP than there were 10 weeks ago. This growth in mid-tier holdings signals increased confidence from key stakeholders, who may be positioning themselves for future price appreciation.
Source: https://u.today/only-240-million-xrp-in-24-hours-whales-are-not-there