A significant XRP transfer valued at over $100 million has sparked market interest as whale activity continues to rise despite weakening technical indicators. Whale Alert reported the movement of 73,179,900 XRP between two anonymous wallets, drawing attention from traders who monitor such large transactions for potential market signals.
Blockchain data indicates that XRP whales, defined as wallets holding at least 10 million XRP, have been steadily increasing their holdings, now collectively controlling 45.83 billion tokens. This accumulation level is the highest since May 2018, suggesting potential long-term positioning by institutional players.
Despite this accumulation, XRP's technical indicators show declining strength. The cryptocurrency traded near $1.36, with its Relative Strength Index dropping to 42.80, indicating reduced buying strength. XRP remains below key resistance levels, suggesting sellers maintain short-term control, although it holds above immediate support at $1.34.
$100M XRP Whale Transfer Raises Market Concerns Amid Weakening Momentum
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