XRP has gained more than 14% over the past week as large holders transferred 460 million coins, according to blockchain data and market analysts.
Summary
- The cryptocurrency surged more than 12% last week as major holders transferred 460 million coins, signaling profit-taking and portfolio reshuffling.
- XRP ETFs from Canary Capital, Bitwise, Grayscale and Franklin Templeton saw strong net inflows, outperforming Bitcoin ETFs and Solana on November 26.
- Analysts warn that XRP needs to convert current resistance into support to maintain bullish momentum, with whale trades and institutional flows closely watched for market signals.
The cryptocurrency’s price increase follows a previous decline, sparking significant on-chain activity from major investors, commonly referred to as “whales” in cryptocurrency markets. The transfers raised questions about near-term price direction as the asset consolidated near key technical levels.
Analyst Ali Martinez reported on whale activity this week, noting that holders unloaded or redistributed 460 million XRP coins in recent days. The transfers took place as the asset was recovering from previous losses, Martinez said.
XRP ETF
The selling activity coincided with continued institutional interest in XRP exchange-traded funds. According to data from SoSoValue, XRP ETFs (XRP) from Canary Capital, Bitwise, Grayscale and Franklin Templeton have seen combined net inflows since their launch in the US market. On November 26, total inflows into XRP ETFs exceeded those of Bitcoin and Solana ETFs on the same date, data shows.
Bitcoin ETFs saw positive inflows on November 26, while Solana ETFs saw their first outflow that day, according to the tracking service.
Large cryptocurrency holders typically adjust their portfolio positions following significant price movements in either direction, market observers noted. The recent price surge may have provided profit-taking opportunities for major holders.
Analyst CRYPTOWZRD said that XRP needs to convert current resistance levels into support to maintain the bullish momentum. Breaking resistance would establish higher price targets for the asset, the analyst added.
Market participants monitor price action, large holder transactions and institutional fund flows to look for indicators of future price direction, according to discussions in the trading community.
