XRP whale activity drop 57% as traders dey eye possible correction
On-chain data wey Ali Martinez cite show say XRP whale activity don drop sharply. For di last 9 days, $1M+ token transfers don fall from 157 to 67, na 57.3% decline. Traders dey read di reduced XRP whale activity as say pressure from big holders don reduce, we fit lower short-term volatility and make consolidation fit happen around recent levels. Di latest note also talk say XRP reportedly retested about $1.31. Despite dis, di overall tone still bearish. XRP still dey below di 50-day and 200-day moving averages, and momentum indicators dey show weakening buy pressure. Market dey focus on whether XRP whale activity go stabilize and whether XRP fit hold nearby support during di bearish tape. If e no regain strength e fit open downside toward lower support zones, while if e stabilize e fit help set up tighter range before possible breakout.
Bearish
Di gist dem bad for XRP because big whale activity don drop well well, wey often dey match weak directional demand and fit show say price fit correct. Both summaries talk say, even though lower whale activity fit reduce volatility and allow consolidation, XRP still dey trade under key moving averages and market sentiment don dey turn bearish.
Short term: traders fit watch for a "stabilization" phase where XRP go dey consolidate, but if big holders no start to join again, e increase risk say price go fall again if support hold no tight.
Long term: whale activity wey dey fall while broader market dey cautious mean rallies fit meet supply pressure until either whale volume speed up again or technical levels reclaim the 50-day/200-day trend backdrop.