XRP Whales Accumulate Millions Despite Crypto’s Underwhelming Performance

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XRP whales, or large holders of the cryptocurrency, are showing increased bullishness despite its lackluster performance. Recent data suggests that these whales are accumulating XRP, with approximately 11 million coins, worth $6.82 million, acquired in the past week. This accumulation trend goes against the prevailing market sentiment and indicates a underlying bullish sentiment among some investors. However, not all whales share this optimism, as one particular whale recently transferred a significant amount of XRP to two centralized exchanges. These transfers, totaling over 50 million XRP, suggest a divergence in sentiment among whales. Additionally, another substantial transfer of 25.5 million XRP was made to a Luxembourg-based exchange, coinciding with the decline in XRP’s price. Such large transfers to exchanges typically signal an increase in supply, potentially leading to diminished demand and a pullback for the cryptocurrency. Overall, the XRP market is witnessing mixed sentiments among whales, with some accumulating while others are offloading their holdings.

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