A massive whale move saw over 74 million XRP worth over $38 million leave different exchanges as price continued to struggle.
Specifically, inflows on the 27th of April were around 3.4 million XRP, while outflow exceeded $5 million.
This indicated that more XRP left exchanges than entered them, which could suggest bullish sentiment among holders anticipating price increases.However, it’s also possible that these movements represent a redistribution of holdings by whale wallets. At the time of this writing, no significant movements have occurred.
Also, outflows continued to surpass inflows at press time, with over 2.7 million XRP leaving exchanges compared to over 2.6 million entering.price trend indicated a continuation of the decline observed on the 27th of April. That day, the price was around $0.52, representing a decline of over 1.5%. At the time of this writing, it was trading at around $0.51, with a slight decline of less than 1%. The long moving average continued to act as immediate resistance at approximately $0.58.
Additionally, the Relative Strength Index remained at 40, suggesting a bearish trend since around the 11th of April, with the price unable to cross the neutral line.data revealed that Ripple’s sentiment remained low at the time of writing. The Funding Rate was around 0.0092%, indicating that buyers were in control.However, this also suggests low activity from traders. Confirming this trend, the Open Interest was around $535 million, indicating a lack of significant trading activity.
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