- XRP price rises 10%, bolstered by decreased selling from holders.
- Whale interest in XRP increases.
- Surge coincides with broader market recovery, impacting BTC and ETH.
XRP surged 10% after long-term holders decreased selling, pushing its price to approximately $2.28, this week. The increase occurred amidst new user activity and an uptick in whale accumulation.
The phenomenon highlights a growing demand for XRP, likely driven by decreased supply pressure and heightened investor interest, underpinned by on-chain data reflecting positive market sentiment.
XRP Climbs 10% as Holders Curtail Sales
XRP saw a 10% price increase linked to long-term holders reducing sales. On-chain metrics, including new address creation on April 28, have risen, signaling fresh capital inflow.
“The Liveliness metric dropped to 0.81 (its lowest since December 1), indicating LTHs are refraining from selling, reducing market supply and pressure.”
Notably, whale wallets between 1-10 million XRP added to their positions. These movements show increasing confidence and risk appetite among investors.
Whale Accumulation Boosts XRP Market Rally
The XRP market responded to reduced long-term holder activity by rallying, indicating reduced market pressure. Whale accumulation has further fueled this positive trend.
The broader market, involving assets like Bitcoin and Ethereum, experienced a similar upswing. This aligns with historical patterns of correlated performance among major cryptocurrencies.
XRP Continues Bullish Trend with Whale Activity
Historically, XRP has risen when whales accumulate or long-term holders refrain from selling. Such patterns often lead to bullish cycles, as observed in previous market trends .
Experts suggest the current trend may continue if whale and holder behavior aligns with past patterns. Further price increases could occur depending on sustained interest and market conditions.
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