Whale Transfers 390 Million XRP To Bithumb — Is Ripple Going To Dump?
KEY TAKEAWAYS XRP dropped 31%, then recovered 22% to $0.51. Large whale deposits may indicate upcoming selling pressure. XRP’s resistance challenges hint at potential further declines.
The Ripple token XRP price experienced a notable decline over the weekend. From April 12, when it was worth around $0.60, it dropped more than 30% to a low of $0.42 on April 13.
Since then, it has recovered, reaching a high of $0.51 on April 14. However, the market crash might have spooked some XRP whales, making them deposit a substantial sum on the Korean exchange Bithumb.
These deposits usually indicate upcoming selling pressure, so will XRP make another sharp downturn?