XRP: Large Transactions Evaporate by 57.3% in 9 Days... "Whales Fled First"

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Transaction activity by large holders on the XRP network has sharply contracted. Amid a bearish sentiment in the overall cryptocurrency market, XRP faced downward pressure throughout the week, showing clear signs of slowing network activity.

U.Today reported on May 23 (local time) that the number of large XRP transactions exceeding $1 million decreased from 157 to 67 over the past 9 days. Crypto analyst Ali Martinez, citing on-chain data, captured this trend and analyzed that large holders have stepped back amid market uncertainty.

The decrease in the number of large transactions reached 57.3%. This means XRP whale transactions more than halved in a short period. It is interpreted that the overall XRP network activity is weakening as the frequency of large buy or sell orders entering the market decreases.

According to the article, observations have also been raised in the market that the contraction in whale transactions has increased the possibility of a prolonged XRP price correction. A decrease in large-scale transactions is interpreted to mean fewer large orders that can affect the market in the short term. At the same time, an analysis was also presented that this could lead to a consolidation phase where short-term volatility decreases and price movements narrow.

However, there was also an assessment that the slowdown in transactions by large holders is not solely an immediate signal of fear. According to the article, some analysts saw the decrease in large transaction volume as a process that could naturally lead to order book recovery. The explanation is that there is room for market structure to be reorganized while the focus of short-term activity shifts to individual investors.

XRP confirmed a slowdown in on-chain activity due to the combined effect of large holders' wait-and-see attitude and overall market weakness. The decrease in whale transactions has emerged as a key variable for gauging the direction of the short-term market, and future XRP price movements are increasingly likely to be determined by the recovery of network activity and the resumption of large transactions.

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