Is XRP about to tank? The big question this week is: Ripple whales disappear – will XRP price drop this week? Investors are on edge as Ripple (XRP) price is trending around $0.52 on Feb. 3, down 5% within the weekly timeframe. This downturn comes as investors react to the Chris Larsen hack.
XRP has dropped below $2.1 to become the worst-performing top cryptocurrency, falling 14.5% weekly. Despite Ripple's SEC victory, XRP’s price failed to create a significant impact in the indices this week. Why the lackluster performance? One key factor is the apparent disappearance of Ripple whales.
Ripple whales have been missing in action of late, as seen in the low percentage of stablecoin total supply held by whales with more than $5 million. This lack of whale activity, combined with potential whale selloffs, could be contributing to the current price decline.
Analyst Il Capo has previously voiced concerns about XRP. Could the current market conditions be validating those concerns? While XRP remained bullish during the weekend, jumping from [insert previous price point here], the overall sentiment is cautious.
Keep a close watch on whale movements this week. The disappearance of these large XRP holders, coupled with the ongoing repercussions from the Chris Larsen hack, could significantly impact the XRP price this week.