XRP Whales recently withdrew 806 million tokens from crypto exchanges.
Whales’ actions suggest belief in XRP’s long-term potential.
The community’s bullish speculation is yet to reflect in XRP’s price.
XRP whales recently withdrew 806 million tokens worth over $400 million from the exchanges. According to a cryptocurrency analyst on the Cheeky Crypto YouTube channel, the whales’ actions sent massive signals across the crypto space, leaving users speculating over the altcoin’s future.
The analyst explained the significance of such actions by crypto whales, highlighting its impact on the crypto community, in a podcast. He noted that similar actions in the past have often led to significant price movements.
Crypto users observe whales’ actions and factor that in while analyzing the markets. On that note, it is crucial to note that withdrawing substantial amounts of a digital asset typically suggests that these large holders believe in its long-term potential and aren’t planning to sell anytime soon.
From the retailers’ perspective, they are led to believe that crypto whales may have far more information about the internal workings of crypto pro…
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