XRP Whale Accelerates Conversion to Exchanges, Possible Short Term Price Pressure

CryptoQuant research director Julio Moreno stated that XRP Whale has recently accelerated the transfer of tokens to exchanges, which may lead to short-term price pressure. The data shows that the 30 day average of XRP whales transferred to the exchange has increased from 141 million in early July to 260 million. Moreno pointed out that the inflow of whale funds into exchanges usually indicates possible selling pressure, and a similar situation in July led to a decline in XRP prices.