XRP whales cap selling as wallet growth hits 8-month high

💡 DMK Insight

XRP’s record wallet growth signals a shift in market dynamics, and here’s why it matters now: With XRP currently at $2.32, the increase in wallet addresses indicates growing retail interest, which often precedes price recoveries. Easing whale outflows suggest that large holders are becoming more stable, potentially reducing selling pressure. This could be a sign that the market is finding a bottom, especially after recent price weakness. Traders should keep an eye on the $2.20 support level; if it holds, we might see a bounce back towards $2.50 or higher in the coming weeks. But don’t overlook the flip side—if whale activity spikes again, it could lead to renewed selling pressure. Monitoring the balance of wallet growth against whale movements will be crucial. Additionally, watch for any news or developments that could impact regulatory sentiment around XRP, as that could influence both retail and institutional participation significantly.