XRP Faces Short-Term Pullback Risk as Holder Outflows Jump 2,200%
BeInCrypto
XRP's price may decline soon due to a 2,200% increase in outflows from long-term holders and mixed signals from whales.Summary
XRP, despite a recent 9% weekly climb, is showing signs of weakening momentum and faces a potential short-term pullback. On-chain data reveals a significant increase in selling pressure, with long-term holders increasing outflows by over 2,200% in less than two weeks, indicating profit-taking. Whale activity is mixed, with 'mega whales' accumulating XRP while smaller whales are selling. Technically, XRP is trading within a symmetrical triangle, suggesting indecision, and a break below $2.60 could lead to further declines. The combination of these factors suggests a higher probability of a short-term price pullback for XRP.
(Source：BeInCrypto)