๐ฅWhales Betting on XRP Returns Amidst Coinโs Downward Performance
๐ Whales Accumulate $299M XRP; Mixed Signals Persist
Despite Ripple's stagnant performance, whales have acquired $299 million XRP in 24 hours. While derivatives data shows conflicting trends, social interest declines amid legal disputes. CEO Brad Garlinghouse expresses skepticism about Ripple's IPO prospects due to SEC issues.
โ๏ธ Controversy in Derivatives Market
XRP's derivatives market shows mixed signals, with increased interest but declining netflows. Whales' activity contrasts with dwindling social volumes, reflecting uncertainty among investors.
๐ Potential Breakout Amidst Uncertainty
XRP's price remains within a critical range, hinting at a potential breakout. Chart analysis suggests a bearish bias in the short term, with a possible retracement towards $0.48. Conversely, breaching resistance at $0.55 could signal a bullish trend.
