On March 2, XRP had a harsh rise of 34.15 %. US President Donald Trump’s announcement that the XRP will include the country’s strategic digital reserve, led to the rise of the price. However, on March 3, he drew attention to the fact that he gave back half of the price. Investors closely follow this mobility.
Sales signals from large wallets
High -volume transactions in the XRP market stand out. Analyst Ki-Young Ju says that serious sales movements come from big addresses. The XRP price is intensively traded between 2 and 3 dollars. Although the increase in transaction volume can be considered as a purchase signal, it is stated that sales -weighted movements are dominant.
Large investors tend to make profits at the summit of rise trends. This process points to a period in which sales pressure increases after the prices reach the summit. Analysts emphasize that this stage is a process that needs to be considered for crypto currency investors.
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Technical analysis points to critical levels
The XRP price is traded 30 %below the highest levels of all time. Analyst Dom says that the VWAP price cannot maintain $ 2.70. Technical data show that this level is an important support point. The lack of permanent XRP at this level increases sales pressure.
Dami Defi states that the rise is not sustainable at the resistance levels. Whale Flow data shows that the XRP is experiencing an unprecedented sales wave. The XRP reserves in Binance are also observed. Analysts think that this increase in reserves may show that investors have closed their positions.
Cyber Security Specialist Matt C, technical indicators indicate that the current mobility points to sales. Changes in the XRP market for investors point to an important decision process.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
