XRP is in the spotlight again! 🚀 Recently, whale activity on Binance reached its highest level in the last six months, with 2.66 billion XRP moved. 📈 This shows that large XRP holders are getting more active, and there could be an interesting trading strategy behind this.
Over the past month, the price of XRP has seen a significant surge, peaking at $2.9092. 💵 Although the price has now fallen back below $2.5, XRP is still showing a 3% increase in the past week. However, usually, a large inflow to the exchange can be a sign that there will be a sell-off, as happened in April 2024 and November 2022 which were followed by a price drop. 📉
Binance is also a big player in the XRP community, holding around 1.8 billion XRP worth $4.26 billion, making it the second-largest holder after Ripple's escrow account. 🏦 This whale activity shows that Binance is becoming a liquidity hub for XRP trading.
Additionally, Ripple also recently moved 580 million XRP in a few transactions, which could further affect market dynamics. 🔄 With XRP currently at $2.42, up 1.72% in a day and 260% in a month, interest in XRP seems to be still high, especially nearing its ATH of $3.84. 🌟
So, all eyes are on XRP and how this whale activity will affect the price going forward! 🧐
