{"id":605522,"date":"2024-04-29T08:50:54","date_gmt":"2024-04-29T08:50:54","guid":{"rendered":"https:\/\/wncen.com\/?p=605522"},"modified":"2024-07-12T06:13:33","modified_gmt":"2024-07-12T06:13:33","slug":"xrp-sees-over-12-million-sell-off-whale-warning-or-buying-opportunity","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/xrp-sees-over-12-million-sell-off-whale-warning-or-buying-opportunity\/","title":{"rendered":"XRP Sees Over $12 Million Sell-Off: Whale Warning Or Buying Opportunity?"},"content":{"rendered":"

This points to investors perhaps losing interest and a hesitation to trade XRP. Still, a single ray of optimism emerges from the darkness\u2014a rise in long-term holdings.<\/span> This increase shows that some investors choose to hang onto their assets despite the present volatility since they still see great long-term prospects for XRP.
\n<\/span><\/p>\n

Supported by Ripple Labs, once-booming bitcoin XRP finds itself dangerously on a stormy sea of uncertainty. For the digital asset, recent weeks have been a stormy journey marked by a confluence of issues: regulatory scrutiny, declining investor confidence, and now, the terrible migration of big whales.<\/span>
\n<\/span><\/p>\n

Related Reading: Render Revving Up: Analyst Predicts Potential Climb To $16<\/a><\/div>\n

XRP Whale Exodus Sparks Fear<\/strong><\/h2>\n

Deep-pocketed XRP holders, known as “whales,” have started selling large amounts of XRP, shaking the market. Based on on-chain statistics, a massive transfer worth perhaps more than $12 million\u2014valuated from the Bitvavo exchange\u2014vanishes into an anonymous wallet.<\/span>
\n<\/span><\/p>\n

Such sizeable movements are often interpreted as a bearish signal, signifying a potential lack of faith among these influential investors and casting a dark cloud over XRP’s immediate future.<\/p>\n

\"\"Source: Whale Alert\/X<\/pre>\n
XRP Price Takes A Tumble <\/strong><\/h2>\n
The negative undercurrents coursed through the market have shown up as a sharp drop in XRP price.<\/span> XRP is just $0.51 at the time of writing, a shockingly 16% decline over the previous month alone.
\n<\/span><\/p>\n
This price plunge underscores XRP’s struggle to regain its footing amidst a broader market correction that has gripped the cryptocurrency space since May 2023.<\/p>\n
Institutional Investors Lose Their Appetite For XRP <\/strong><\/h3>\n
One obvious drop in institutional interest is fueling the fears of fire.<\/span> Data points from Santiment reveal a clear reluctance among entities with large XRP reserves.
\n<\/span><\/p>\n
<\/p>\n
XRP market cap currently at $27.7 billion. Chart: TradingView.com<\/a><\/pre>\n
Usually classified as high-net-worth individuals or institutional actors, investors with holdings ranging from 100,000 to 100 XRP show indications of doubt.<\/span> This trend accentuates the general pessimistic attitude by further reducing the appeal of XRP on the market.
\n<\/span><\/p>\n
On-Chain Metrics Signal Trouble On The Horizon<\/strong><\/h3>\n
Examining XRP’s on-chain statistics more closely reveals a troubling trend: a drop in both network growth and transaction speed.<\/span> Along with a declining transaction frequency, the acquisition of fresh users on the XRP network seems to be stagnate.
\n<\/span><\/p>\n
\"\"XRP 24-hour price action. Source: CoinMarketCap<\/a><\/pre>\n
This points to investors perhaps losing interest and a hesitation to trade XRP<\/a>. Still, a single ray of optimism emerges from the darkness\u2014a rise in long-term holdings.<\/span> This increase shows that some investors choose to hang onto their assets despite the present volatility since they still see great long-term prospects for XRP.
\n<\/span><\/p>\n
Related Reading: Is SUI Sinking? TVL Tanks As Crypto Price Fails To Keep Afloat<\/a><\/p>\n
Development Activity Dwindles, Raising Concerns About Innovation <\/strong><\/h3>\n
The field of development also presents XRP with a worrying picture.<\/span> Downstream trends in indicators including code changes and the count of active developers working on XRP-related projects have shown themselves.
\n<\/span><\/p>\n
This scarcity of development activity begs questions regarding possible lack of innovation or advancement inside the XRP ecosystem. A stationary environment might aggravate the pessimistic attitude toward the cryptocurrency and undermine investor trust even more.<\/p>\n
Featured image from Corporate Finance Institute, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
This points to investors perhaps losing interest and a hesitation to trade XRP. Still, a single ray of optimism emerges from the darkness\u2014a rise in long-term holdings. This increase shows that some investors choose to hang onto their assets despite the present volatility since they still see great long-term prospects for XRP. Supported by Ripple Labs, once-booming bitcoin XRP finds itself dangerously on a stormy sea of uncertainty. For the digital asset, recent weeks have been a stormy journey marked by a confluence of issues: regulatory scrutiny, declining investor confidence, and now, the terrible migration of big whales. Related Reading: Render Revving Up: Analyst Predicts Potential Climb To $16 XRP Whale Exodus Sparks Fear Deep-pocketed XRP holders, known as “whales,” have started selling large amounts of XRP, shaking the market. Based on on-chain statistics, a massive transfer worth perhaps more than $12 million\u2014valuated from the Bitvavo exchange\u2014vanishes into an anonymous wallet. Such sizeable movements are often interpreted as a bearish signal, signifying a potential lack of faith among these influential investors and casting a dark cloud over XRP’s immediate future. Source: Whale Alert\/X XRP Price Takes A Tumble The negative undercurrents coursed through the market have shown up as a sharp drop in XRP price. XRP is just $0.51 at the time of writing, a shockingly 16% decline over the previous month alone. This price plunge underscores XRP’s struggle to regain its footing amidst a broader market correction that has gripped the cryptocurrency space since May 2023. Institutional Investors Lose Their Appetite For XRP One obvious drop in institutional interest is fueling the fears of fire. Data points from Santiment reveal a clear reluctance among entities with large XRP reserves. XRP market cap currently at $27.7 billion. Chart: TradingView.com Usually classified as high-net-worth individuals or institutional actors, investors with holdings ranging from 100,000 to 100 XRP show indications of doubt. This trend accentuates the general pessimistic attitude by further reducing the appeal of XRP on the market. On-Chain Metrics Signal Trouble On The Horizon Examining XRP’s on-chain statistics more closely reveals a troubling trend: a drop in both network growth and transaction speed. Along with a declining transaction frequency, the acquisition of fresh users on the XRP network seems to be stagnate. XRP 24-hour price action. Source: CoinMarketCap This points to investors perhaps losing interest and a hesitation to trade XRP. Still, a single ray of optimism emerges from the darkness\u2014a rise in long-term holdings. This increase shows that some investors choose to hang onto their assets despite the present volatility since they still see great long-term prospects for XRP. Related Reading: Is SUI Sinking? TVL Tanks As Crypto Price Fails To Keep Afloat Development Activity Dwindles, Raising Concerns About Innovation The field of development also presents XRP with a worrying picture. Downstream trends in indicators including code changes and the count of active developers working on XRP-related projects have shown themselves. This scarcity of development activity begs questions regarding possible lack of innovation or advancement inside the XRP ecosystem. A stationary environment might aggravate the pessimistic attitude toward the cryptocurrency and undermine investor trust even more. Featured image from Corporate Finance Institute, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":605535,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,6664,3680,4531],"class_list":["post-605522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-crypto","tag-ripple","tag-xrp"],"acf":[],"yoast_head":"\nXRP Sees Over $12 Million Sell-Off: Buying Opportunity?<\/title>\n<meta name=\"description\" content=\"This points to investors perhaps losing interest and a hesitation to trade XRP. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Sees Over $12 Million Sell-Off: Whale Warning Or Buying Opportunity?","url":"http:\/\/wncen.com\/news\/xrp-sees-over-12-million-sell-off-whale-warning-or-buying-opportunity\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/xrp-sees-over-12-million-sell-off-whale-warning-or-buying-opportunity\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/a_8cb7ba.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/a_8cb7ba.jpeg?fit=1920%2C1080"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","crypto","ripple","xrp"],"dateCreated":"2024-04-29T08:50:54Z","datePublished":"2024-04-29T08:50:54Z","dateModified":"2024-07-12T06:13:33Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Sees Over $12 Million Sell-Off: Whale Warning Or Buying Opportunity?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/xrp-sees-over-12-million-sell-off-whale-warning-or-buying-opportunity\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/xrp-sees-over-12-million-sell-off-whale-warning-or-buying-opportunity\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/a_8cb7ba.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/a_8cb7ba.jpeg?fit=1920%2C1080\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"crypto\",\"ripple\",\"xrp\"],\"dateCreated\":\"2024-04-29T08:50:54Z\",\"datePublished\":\"2024-04-29T08:50:54Z\",\"dateModified\":\"2024-07-12T06:13:33Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/a_8cb7ba.jpeg?fit=1920%2C1080","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/605522"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=605522"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/605522\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/605535"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=605522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=605522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=605522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}