Cryptocurrency

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 <p class="paragraph">With the XRP (XRP) price experiencing a negative trend in the previous days, most investors would be inclined to stay away from this investment, but not according to whale holders, who maintain their position.</p>
 <div></div>
 <p class="paragraph">Cryptocurrency analyst Ali Martinez notes even in the face of an 18% price dip for XRP over the past ten days, it’s intriguing to observe a noteworthy surge in whale transactions and their accumulated holdings.&nbsp;</p>
 <p class="paragraph">This activity surge among major crypto investors raises speculation that it could serve as a harbinger of a potential <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> rebound for XRP, as per his post on X on November 17.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph"><br>“Despite XRP‘s 18% <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> drop over the past 10 days, there’s a notable uptick in <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> <a rel="noopener noreferrer nofollow" title="transactions" href="https://thebittimes.com/tag/transactions.html">transactions</a> and their holdings. This growing interest from major players could be a precursor to an XRP <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> rebound,” Ali stressed.</p>
 </blockquote>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="490" src="https://cdn.thebittimes.com/images/2023/11/17/f0d89297caa904e6b4f5e6e2090fbf82.webp" alt="XRP whale transaction activity chart.  Source: ali_charts" class="wp-image-138058" srcset="https://cdn.thebittimes.com/images/2023/11/17/f0d89297caa904e6b4f5e6e2090fbf82.webp 1024w, https://cdn.thebittimes.com/images/2023/11/17/f0d89297caa904e6b4f5e6e2090fbf82.webp 300w, https://cdn.thebittimes.com/images/2023/11/17/f0d89297caa904e6b4f5e6e2090fbf82.webp 768w, https://cdn.thebittimes.com/images/2023/11/17/f0d89297caa904e6b4f5e6e2090fbf82.webp 1536w, https://cdn.thebittimes.com/images/2023/11/17/f0d89297caa904e6b4f5e6e2090fbf82.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   XRP whale transaction activity chart. Source: ali_charts
  </figcaption>
 </figure>
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 <p class="paragraph">The increased involvement of these influential entities suggests a growing confidence or strategic positioning that may influence the broader market sentiment and contribute to a positive shift in XRP’s valuation.</p>
 <h2 class="wp-block-heading" id="h-recent-developments-regarding-xrp">Recent developments regarding XRP</h2>
 <p class="paragraph">Recent news of fake BlackRock filing for an XRP exchange-traded fund (ETF) highlights traders’ eagerness to invest in this digital asset. After the news broke out, the price of XRP surged by 10% in a single day, driving its value toward the level of $0.69.</p>
 <p class="paragraph">Another notable development in November is that Ripple has deviated from its observed pattern of selling unlocked XRPs in weekly batches, marking the first instance since August. The most recent sell-off of 60 million XRP ($39 million) occurred on November 6, and it has been 11 days since this <a rel="noopener noreferrer nofollow" title="transaction" href="https://thebittimes.com/tag/transaction.html">transaction</a>.</p>
 <h2 class="wp-block-heading" id="h-xrp-price-analysis">XRP price analysis</h2>
 <p class="paragraph">At the time of press, the XRP price stood at $0.60, which marks a negative change of -5.57% in the previous 24 hours, adding to the losses incurred over the past 7 days that amounted to -7.39%; however, monthly gains of 22.31% represent a stark contrast to the recent price movement.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/11/17/a414aba6221cd26af776f9a07ff0206a.webp" alt="XRP 24-hour price chart.  Source: Finbold
" class="wp-image-138060" srcset="https://cdn.thebittimes.com/images/2023/11/17/a414aba6221cd26af776f9a07ff0206a.webp 1024w, https://cdn.thebittimes.com/images/2023/11/17/a414aba6221cd26af776f9a07ff0206a.webp 300w, https://cdn.thebittimes.com/images/2023/11/17/a414aba6221cd26af776f9a07ff0206a.webp 768w, https://cdn.thebittimes.com/images/2023/11/17/a414aba6221cd26af776f9a07ff0206a.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   XRP 24-hour price chart. Source: Finbold
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 </figure>
 <p class="paragraph">Aspects that spell out a positive outlook for this digital asset are most notably its trading above the 200-day moving average, and 18 green days in the previous 30. Combined with its better performance than 68% of the top 100 crypto assets in a year.</p>
 <p class="paragraph">On the other hand, it is essential to note that this is still down -85% from its all-time high value. Considering both pros and cons, whether XRP’s price will rebound remains to be seen.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/xrp-whale-transactions-rise-despite-18-price-drop-rebound-imminent-tbt70705.html">https://thebittimes.com/xrp-whale-transactions-rise-despite-18-price-drop-rebound-imminent-tbt70705.html</a></p>

XRP whale transactions rise despite 18% price drop; Rebound imminent?

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