💸 Time to Sell $XRP ? $444 Million Inflows on Exchanges
💥 XRP Makes Waves in the Crypto Market
Ripple's XRP has surged over 420% in the past 30 days, outperforming major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Binance Coin (BNB). The altcoin has climbed to become the third-largest cryptocurrency by market cap, surpassing SOL, BNB, and USDT.
📊 $445M Inflows: A Warning Sign?
On-chain data from Coinglass reveals a significant $444.39 million in inflows to exchanges over the past four days. This movement suggests that whales may be preparing to sell, creating selling pressure and signaling a potential price correction in the near term.
📈 Rising Open Interest Highlights Trader Activity
Traders have shown heightened interest in XRP, with open interest (OI) spiking by 37.98% in the past 24 hours. This increase in OI reflects growing participation, potentially from traders looking to take advantage of the price rally or create short positions anticipating a reversal.
🚀 XRP’s Price and Volume Surge
At the time of writing, XRP is trading at $2.72, marking a remarkable 43% gain in the past 24 hours. Trading volume has also skyrocketed by 390%, showcasing increased activity from investors and traders seeking to capitalize on the price action.
📉 What’s Next for XRP?
While XRP’s performance has been extraordinary, the combination of whale inflows and rising open interest suggests caution. Investors should keep an eye on market trends as the potential for profit-taking or a price correction looms.