[28 million XRP dump shocked the Ripple community]
Despite strong bullish momentum in the crypto market, the price of XRP has failed to follow suit. This may be related to the negative sentiment among XRP supporters and investors, especially the selling action from whales.
According to data from Whale Alert, an XRP whale transferred approximately 28 million XRP from a private wallet to the Bitso exchange in Mexico, worth approximately $15 million. Such large-scale moves usually put bearish pressure on the market and may trigger additional selling actions from investors.
No significant XRP buying activity has been detected yet, and the market is clearly tilted toward sellers, with bears taking control. If this sentiment persists, it will be difficult for XRP to rise significantly in the short term, further increasing market pressure.
Even though Bitcoin is nearing $68,000 and on track to reach a new all-time high by the end of the month, XRP has not followed suit. At the time of writing, XRP price is at $0.5482, down 0.82% in the past 24 hours, with trading volume also down 19.46% and currently trading around $1.14 billion, showing a lack of trading activity and subdued sentiment in the market.
