Cryptocurrency
Ripple Effect: XRP Whales Buy Up A Sea of Small Fish Selling
As reported by NewsBTC, “Blockchain data transparency offers a figurative ocean of information at a click. New data shows that Ripple whales are buying up any XRP small fish sellers are offering up. “In the past, XRP broke out from downtrends with an explosive move. With so many whales accumulating, will there soon be a ‘thar she […]
As reported by NewsBTC, “Blockchain data transparency offers a figurative ocean of information at a click. New data shows that Ripple whales are buying up any XRP small fish sellers are offering up.
“In the past, XRP broke out from downtrends with an explosive move. With so many whales accumulating, will there soon be a ‘thar she blows’ moment?
“XRP is the native cryptocurrency token of the Ripple protocol, another distributed ledger like Bitcoin or Ethereum.
“The beauty of blockchain distributed ledger technology is the transparency it provides. Anyone can access this information, at any time using various explorer tools.
“Blockchain data available includes how many transactions are made, at when, and for what amount. It also contains details of how much crypto is stored in the wallet, along with the wallet address.
“This publicly available information can be helpful in fundamental analysis in cryptocurrencies. By understanding wallet inflow or outflow, or the size of wallets, it can sometimes tip off market movements.
“XRP transactions act the same, with all of this detailed information visible through the Ripple network.
“A divergence in XRP whale wallets and small fish crypto investors may provide clues as to what to expect next…”