Whale activity in the XRP market has once again caught the attention of investors, with wallets adding over 1 billion XRP in the last 48 hours, impacting price dynamics.
Whale Activity and Price Influence
From December 10 to 15, 2024, XRP prices showed volatility. Despite fluctuations, whale holdings remained relatively stable. However, from December 16 to 20, a sharp price drop aligned with a noticeable reduction in whale holdings, suggesting selling activity during the downturn exerted pressure on the price.
Renewed Interest in January
Towards the end of December, the market was cautious, with XRP price experiencing a slight dip. Whale holdings also showed modest decline. However, January saw a resurgence. On January 3, whale holdings sharply increased, driving XRP prices upwards. From January 4 to 9, high holdings levels were maintained, sustaining momentum despite some price fluctuations.
Market Trend Analysis
On January 10, whale holdings peaked at 10.3 billion XRP, yet the price slightly dropped. This could indicate profit-taking or resistance at key levels. The market data reveals a pattern of accumulation and distribution, highlighting the influence of whale activity on XRP price movement.
Whale activity continues to significantly influence the XRP market. Their accumulation and distribution strategies form key price changes and impact investor behavior.
