135M XRP moved to Binance: Is a drop to $0.48 next?

XRP Sell-Off Continues
Recent data from on-chain analytics firm Santiment shows that XRP whales, which are addresses holding between 1 million and 10 million XRP, have been continuously selling their holdings since mid-December 2020. This trend has been consistent for the past two months, with XRP whales offloading over 3.8 billion XRP during this period. This is equivalent to approximately $1.6 billion at current prices.
Institutional Investors Follow Suit
In addition to whales, institutional investors have also been selling their XRP holdings. Grayscale, one of the largest institutional investors in the crypto space, recently liquidated all of its XRP holdings from its Digital Large Cap Fund. This move came after the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, the company behind XRP, for allegedly conducting an unregistered securities offering.
Price Impact and Market Sentiment
The continuous sell-off by whales and institutions has had a significant impact on the price of XRP. The cryptocurrency has dropped over 50% since the SEC lawsuit was announced, and it continues to face selling pressure. This has caused a shift in market sentiment, with many investors becoming wary of holding XRP in their portfolios.
Hashtags and Crypto Tickers
As the XRP sell-off continues, it has become a hot topic on social media and in the crypto community. The hashtags #XRP, #Ripple, and #SEC have been trending as users discuss the potential implications of the SEC lawsuit and the ongoing sell-off. Crypto tickers such as $XRP and $RIPPLE have also been widely mentioned, with investors and traders closely monitoring the price movement of XRP.
Final Thoughts
The continuous sell-off of XRP by whales and institutions, coupled with the SEC lawsuit, has caused a significant decline in the price of the cryptocurrency. This has also sparked discussions and debates within the crypto community on the future of XRP and its potential as a long-term investment. As the situation continues to unfold, it is important for investors to closely monitor developments and make informed decisions based on their risk tolerance and investment goals.

Sentiment Result : Negative

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