Crypto whales have been quietly exiting XRP in August
While retail investors remain optimistic about XRP and expect higher prices in August, on-chain data shows that whales have been gradually selling off their holdings.
Historical data also highlights a strong correlation between whale activity and XRP price. This connection is now raising concerns about XRP’s outlook for August.
What Does the Correlation Between Whale Activity and XRP Price Reveal?
Since late July, Glassnode data has indicated signs of selling from long-term XRP holders. This selling pressure has continued into August.
The XRPL Whale Flow metric tracks the net difference between inflows and outflows of whale transactions on the XRP Ledger. According to this data, whale flows turned negative and…
