XRP has recently come up with significant price fluctuations. While the uncertainty stands out in price movements, the XRP holds about $ 3. This situation, investors’ different moves are stated to be said. Experts say that the sales of big investors have been effective on the price recently.
Sales pressure of XRP whales are effective
In particular, investors with a large amount of XRP reduce assets in their portfolios leads to volatility in prices. In the last seven days, addresses with 10 million to 100 million XRP have been reported to sell approximately 400 million XRP and this corresponds to a value of over $ 1.2 billion. It is suggested that these sales are pressure on the market and directly affect price movements.
Experts, “Whales made by large -scale sales, the market has created a short -term uncertainty environment,” he said.
Nevertheless, there is a decrease in the XRP supply in the stock exchanges. Small and medium -sized investors, the price of the market to balance the XRP and thus alleviate sales pressure.
Investor behaviors provide support for price
In the last 24 hours, it is reported that 77 million XRP was withdrawn from the stock exchanges and that this amount corresponds to $ 231 million. With this accumulation of investors, the price of XRP is prevented from sudden decrease below $ 3. Experts point out that the attitude of individual investors to purchase is an important balance against the sales pressure of whales.
“The active purchase behavior of small investors helps to remain above critical support levels,” a sector representative said.
This situation is thought to be the basis of a possible price improvement in the future. Analysis, despite whale sales, the retail investor shows a strong position in the market.
Critical levels and expectations in XRP price
As of the preparation of the news, the XRP is traded at $ 3.09 and continues to stay above the support point at $ 3.07. Experts believe that the preservation of this level is important for a possible recovery. If the XRP secures $ 3,12 as the next support level, the price may rise up to $ 3.41. It is foreseen that the investor demand can withdraw the price and there may be recovery in the short term.
Market analysts, “with a strong investor demand, XRP has the potential to reach the highest levels,” he said.
However, if the sales pressure of the major investors continues, there are also assessments that XRP may hang below $ 3.07 and fall to $ 2.91. In this scenario, it is stated that optimistic expectations may lose their validity.
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.
