XRP gained more than 14% over the past week as large holders transferred 460 million coins, according to blockchain data and market analysts.
Summary
- The cryptocurrency jumped over 12% in the past week as major holders transferred 460 million coins, signaling profit-taking and portfolio reshuffling.
- XRP ETFs from Canary Capital, Bitwise, Grayscale, and Franklin Templeton recorded strong net inflows, outperforming Bitcoin and Solana ETFs on Nov. 26.
- Analysts caution that XRP needs to convert current resistance into support to sustain upward momentum, with whale transactions and institutional flows closely watched for market signals.
The cryptocurrency’s price increase followed a previous decline, prompting significant on-chain activity from major investors, commonly referred to as “whales” in cryptocurrency markets. The transfers have raised questions about near-term price direction as the asset consolidated near key technical levels.
Analyst Ali Martinez reported the whale activity this week, noting that holders offloaded or redistributed 460 million XRP coins in recent days. The transfers occurred as the asset recovered from earlier losses, Martinez stated.
Source: CoinGeckoXRP ETFs
The selling activity coincided with continued institutional interest in XRP exchange-traded funds. According to data from SoSoValue, XRP (XRP) ETFs from Canary Capital, Bitwise, Grayscale, and Franklin Templeton have recorded combined net inflows since launching in the U.S. market. On Nov. 26, total inflows into XRP ETFs exceeded those of Bitcoin and Solana ETFs on the same date, the data showed.
Bitcoin ETFs recorded positive inflows on Nov. 26, while Solana ETFs registered their first outflow that day, according to the tracking service.
Large cryptocurrency holders typically adjust portfolio positions following significant price movements in either direction, market observers noted. The recent price surge may have provided opportunities for profit-taking among major holders.
Analyst CRYPTOWZRD stated that XRP must convert current resistance levels into support to sustain upward momentum. Breaking through resistance would establish higher price targets for the asset, the analyst added.
Market participants are monitoring price action, large holder transactions, and institutional fund flows for indicators of future price direction, according to trading community discussions.
Source: https://crypto.news/xrp-whales-make-waves-coins-move-price-surges-12/
