The price of the XRP is slipping, and the whales are making a big move. Data on the chain reveals a surge in whale activity, with hundreds of millions of XRP changing their hands. However, while whales are buying, retail interest has declined, and XRP is struggling to keep momentum going.
$915 million snapped in one week on XRP
In just a week, the XRP whales have won more than $420 million in tokens. However, the creation of new wallets has dropped to two months’ lows, indicating that retail profits remain cautious while whales are buying.
Recently, XRP has skyrocketed 6% to $2.23 as more than 108 million XRP traded in an hour. The whales were very active during the meeting. The XRP was stable and supported by strong buying pressure.
On-chain data shows that whales have been actively moving their XRP over the past two weeks. On June 18th, Ripple moved 200 million XRP (approximately $439 million) to an unknown wallet.
Meanwhile, on June 15th, June 15th and June 19th, three large transactions totaling 80 million XRP (worth around $175 million) were sent from unknown wallets to Coinbase.
Previously, 230 million XRPs were moved from Ripple to unknown wallets, and 50 million XRPs were moved between the two unknown wallets. These large transfers indicate an increase in XRP activity.
XRP Eyes Breakout is over $2.20
XRP may be traded sideways, but these transactions indicate that whales are quietly loaded. The number of wallets holding over 1 million XRP has also reached a record high of 2,850.
Recently, XRP saw a massive jump of 442.7% at daily active addresses, reaching 181,000 in just 24 hours. Key spikes in shoes that enhance user interest and actual network activity.
XRP is currently trading at $2.18, an increase of 3.6% over the past 24 hours. It has shown a 2.7% profit over the past week, recovering after falling below $2.00 at the beginning of the week. Recent volumes of rebounds and rise indicate buyers are intervening. However, for a clear breakout, the XRP should be held above $2.20. If rejected, the price can be revisited between $2.05 and $2.10 support.
The technology is mostly neutral, with momentum and MACD showing mild bullish signals. Short-term EMAs are bullish, and long-term SMAs (50, 100, 200) still show some resistance.