Over $700 Million in XRP Moved in April – What’s Going On With Crypto Whales?
In April, there was a lot of activity around XRP as large investors, often called whales, moved big amounts of the cryptocurrency. Reports show that over $700 million worth of XRP was sold by whales in just one month.
Big Investors Sell 370 Million XRP Tokens
On April 15, one crypto analyst pointed out that major holders of XRP started selling large amounts of the coin. After previously buying and holding onto XRP, these investors decided to let go of more than 370 million tokens since the beginning of the month. This huge amount of selling got people speculating about their true reasons.
The value of these sales crossed $700 million and seemed to affect the price of XRP. Data showed that wallets with 100 million to 1 billion tokens reduced their holdings significantly between April 3 and 14. As they sold more, XRP’s price dropped to a low around April 8 before climbing again to $2.10.
There could be several reasons for this behavior. Some whales might be cashing in early profits, while others could be shifting funds to other assets due to market uncertainty. Another reason could be the ongoing legal case between Ripple and the U.S. Securities and Exchange Commission (SEC), with whales preparing for a possible big market change.
In some cases, these large movements might even be part of strategies to influence prices for personal gain, but there’s no confirmed explanation yet. What’s certain is that when whales move money, it always brings attention — and possible changes to the market.
What’s Happening With the XRP Price Now?
According to another crypto analyst, XRP seems to be on a positive trend. The price has broken past two major resistance levels and formed a solid support line, which means it could go higher soon.
The token is now trading at about $2.10. If it goes up by another 20%, it could reach around $2.589. The overall trend looks strong, and it’s even possible the price may rise as high as $3.30 in the coming weeks.
Investors are keeping a close eye on XRP and the movements of big players in the market. The next few weeks could bring interesting changes to this cryptocurrency’s journey.
