CryptoQuant Head of Research: XRP Whales Are Accelerating Token Transfers to CEXs, Price May Face Short-Term Pressure

According to ChainCatcher, CryptoQuant’s Head of Research Julio Moreno pointed out that as large XRP holders accelerate the transfer of assets to exchanges, the token’s price may face short-term pressure. “A sudden acceleration of whale funds flowing into exchanges could signal a price turning point, as these major holders may be starting to sell,” Moreno said.

CryptoQuant data shows that as of Thursday, the 30-day moving average of XRP whale transfers to exchanges has increased from 141 million at the beginning of July to 260 million.

Whale activity has a significant impact on market sentiment. Moreno added that in July, XRP’s price declined after a surge in whale inflows. Notably, on July 18, when XRP hit an all-time high, whales transferred 660 million tokens to exchanges, and the price subsequently fell back to $3 within a week.