XRP managed to deliver a healthy rally from mid-September as the sentiment shifted in favor of the bulls. Its upside resulted in a resistance retest of May 2022.
But, alas, whales have started contributing to short-term sell pressure.XRP whales have so far had a huge impact on its performance.
For example, the largest whales holding more than 10 million coins had a net increase from 15 to 19 September.This whale category controls more than 70% of XRP’s total supply.
Whales in the same category have reduced their balances in the last two days.Source: SantimentXRP whales holding between 100,000 and one million coins have similarly contributed to selling pressure in the last two days.Read more on ambcrypto.com