XRP: Institutional people give a large but threat of massive aircraft disposal

While Bitcoin crossed the new peak to more than $ 111,000, XRP develops in the climate of uncertainty. Crypt of ripple benefits from bull breath. However, this dynamics is accompanied by voltage: a rapid increase in reserves on binance and other fuel exchanges. In the ultra -reactive market, where each indicator is calculated, this unstable configuration requires gentle reading dynamics at stake.

The taste of large carriers feeds on bull dynamics

The speculative wave is currently sweeping on the XRP, powered by an explosion of term contracts and a renewed interest in derivative markets. The behavior of large XRP carriers also attracts the attention of analysts, which strengthens the hypothesis of ascending expectations in the medium term.

In fact, the data on the chain provided by the santiment reveal the significant movement of XRP whales accumulation. More precisely, the portfolios that hold between 10 and 100 million tokens now check 12.1 % of the total offer, compared to 11.88 % 12 May and 11.58 % 12 April.

This procedure, although gradual, testifies to the strategy of accumulation focused on the edge of investors, which has considerable sources. Increasing the risk to the risk among whales means confidence in the future of XRP, while investors bet a potential price increase.

This appetite for large carriers is part of a favorable macroeconomic environment that stimulated a general reflection on the market crypto. The XRP price was reflected in technical support for $ 2.29 to stabilize around $ 2.44. Several technical indicators support this dynamics:

• RSI is kept over midwife 50, with a slight slope up;
• XRP develops over key mobile diameters (50, 100 and 200 days) or $ 2.30, $ 2.26 and $ 2.06;
• The market as a whole benefits from feeling “Increased risking”carried by the performance of bitcoins, which is almost $ 112,000.

These elements strengthen the idea that institutional actors and experienced investors always consider XRP to be strategic, at least in a short and medium term.

Increase in binance reserves trigger doubts

In parallel with this optimistic accumulation, another indicator warns: a significant increase in XRP reserves on the binance. According to cryptocurrency data, the volume of chips available on the platform increased from 2.7 billion to 2.9 billion XRP out of 1^er May.

This rapid increase is often interpreted as a sign of the return of the tokens to be sold. When reserves on stock exchanges, such as binance, may indicate potential sales pressure or increase in volatility, especially if traders use these means to open long or short positions.

This increase in reservations is actually coming, while the interest in XRP derivatives is strengthened. The open interest on term contracts increased to $ 4.94 billion, while the volume of trading on the future reached $ 4.63 billion.

This activity indicates the revival of the obligation, but also means increased exposure to sudden movements, especially if an important part of the chips comes into the active circulation. If the technical increase can continue around $ 3.00, the potential pressure associated with mass sale or rapid profit may reverse dynamics.

The most interesting signal remains the appearance of the Golden Cross on the XRP/BTC pair, the rare phenomenon observed for the last time in 2017. This technical configuration designed in the analysis of the prospect of renewal XRP will launch a renewed hope among investors. The door opens to the strong scenarios of the reflection as it contrasts with concerns associated with massive movements observed on the platforms of cryptocurrencies.

Luc Jose A.

A graduate of the Toulouse and the Blockchain Consultant Certification certification holder and I joined the adventure of Cointribuna in 2019. I convinced of the potential of blockchain to transform many economy sectors, committing to raising awareness and informing the general public about how the ecosysty developed. My goal is to allow everyone to better understand blockchain and take the opportunity they offer. I try to provide an objective analysis of messages every day, decrypt trends on the market, hand over the latest technological innovations and introduce the economic and social issues of this revolution.

Renunciation

The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.