BitnewsToday on Nostr: Ripple under Pressure: Large Investors Sell Off XRP š¬ Large investors have ...
Ripple under Pressure: Large Investors Sell Off XRP š¬
Large investors have recently sold massive amounts of XRP. These sell-offs have significantly pushed the price down.
The crypto market is currently experiencing turbulence, and XRP (XRP), the native cryptocurrency of the Ripple network, is no exception. ā ļø
On Monday, August 26th, the XRP price dropped for the second time in a row, breaking through the crucial $0.60 mark. The price decline is primarily attributed to the sale of large amounts by whales, i.e., major investors with substantial holdings. š These sales increase the pressure on the market and have led to a noticeable correction in the XRP price. š
š Whale Sales Increase Pressure Data from the analysis company Santiment shows that investors holding over 100 million XRP sold around 140 million of these tokens within a week. š±
Such massive sell-offs by large investors often trigger a chain reaction that drives the price of a cryptocurrency further down. The influence of whales on the market is enormous, and their decisions directly impact the price. š Recently, Ripple announced initial tests with its own stablecoin. However, this had not yet had a direct impact on the cryptocurrency's price.
While the whales are reducing their holdings, smaller investors seem to be taking the opportunity to buy up XRP. šļø These purchases by retail investors may have slightly eased the selling pressure, but they couldn't stop the current downward trend. š An analysis of the distribution of XRP holdings shows that the whale sales have been partially offset by an increase in holdings among smaller investors. š
#xrp #crypto #invest #altcoins
Published at
2024-08-28 04:34:10Event JSON
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"content": "Ripple under Pressure: Large Investors Sell Off XRP š¬\n\nLarge investors have recently sold massive amounts of XRP. These sell-offs have significantly pushed the price down. \n\nhttps://m.primal.net/KRAh.webp \n\nThe crypto market is currently experiencing turbulence, and XRP (XRP), the native cryptocurrency of the Ripple network, is no exception. ā ļø\n\nOn Monday, August 26th, the XRP price dropped for the second time in a row, breaking through the crucial $0.60 mark. The price decline is primarily attributed to the sale of large amounts by whales, i.e., major investors with substantial holdings. š These sales increase the pressure on the market and have led to a noticeable correction in the XRP price. š\n\nš Whale Sales Increase Pressure Data from the analysis company Santiment shows that investors holding over 100 million XRP sold around 140 million of these tokens within a week. š±\n\nSuch massive sell-offs by large investors often trigger a chain reaction that drives the price of a cryptocurrency further down. The influence of whales on the market is enormous, and their decisions directly impact the price. š Recently, Ripple announced initial tests with its own stablecoin. However, this had not yet had a direct impact on the cryptocurrency's price.\n\nWhile the whales are reducing their holdings, smaller investors seem to be taking the opportunity to buy up XRP. šļø These purchases by retail investors may have slightly eased the selling pressure, but they couldn't stop the current downward trend. š An analysis of the distribution of XRP holdings shows that the whale sales have been partially offset by an increase in holdings among smaller investors. š\n\n#xrp #crypto #invest #altcoins",
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