XRP Whales Selling at Record Levels; Data Shows Massive Unloading
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- Large XRP holders are dumping tokens in a record sell-off
- XRP surged over 500% from November last year
- Single-day sell-off exceeded $120 million
Cryptocurrency analyst Miles Deutscher highlighted the fact that XRP whales have been selling off their holdings at levels never seen before. This selling activity intensified following a substantial price rally where XRP surged over 500% from November 2024.
Deutscher suggests that XRP is undergoing a distribution phase, a period where major investors liquidate their positions, often signaling that a price drop might be coming.
Over $120 Million in XRP Sold in Single Day
Notably, a single-day sell-off exceeded $120 million, underscoring the scale of this distribution.
XRP had a good run since November, as it experienced a remarkable rally, increasing from $0.52 to over $2. At the moment, it’s sitting at $2.67.
It’s still early to say for sure what will happen, but usually, when whales sell large amounts, it can hurt investor confidence. This can lead to more people selling, including regular investors. Plus, the liquidation of substantial holdings can bring about price swings, potentially causing sudd…
The post XRP Whales Selling at Record Levels; Data Shows Massive Unloading appeared first on Coin Edition.
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