XRP Faces Pressure as Whales Remain Cautious Amid Legal Challenges
22.10.2024 10:00 1 min. read Kostadin Dimitrov
XRP has been under significant downward pressure due to bearish technical indicators and ongoing legal issues.
While recent signs of recovery in the Relative Strength Index (RSI) suggest that selling pressure might be easing, uncertainty remains.
XRP whales, or large holders, have kept their positions largely unchanged, indicating a lack of confidence in a price rebound.
Currently, there are 285 wallets holding between 10 million and 100 million XRP, with little fluctuation over the past week, reflecting a cautious stance among these major investors.
Monitoring whale activity is essential, as these holders can greatly influence market sentiment and price movements.
The steady number of large wallets suggests that key players are not yet convinced that XRP is poised for a significant price surge, making a strong upward trend appear unlikely until they start accumulating more aggressively.
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