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 signi...
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