The article discusses how large transactions of XRP by whales have the potential to negatively impact the price of the cryptocurrency. The on-chain data shows that in August, over 1.7 billion XRP, worth over $899 million, were moved by some of the biggest XRP holders. This has raised concerns among investors about the possibility of significant sell-offs that could put downward pressure on XRP’s price. Additionally, it is noted that 300 million XRP tokens were locked in Ripple’s Escrow wallet, and a further 500 million XRP tokens were locked back into escrow. Although XRP has seen a 2% increase due to buying pressure on Bitcoin, it has experienced a 24.61% decline in the past month. However, the trading volume for XRP has spiked by 115.03% in the past 24 hours.
AI Sentiment: Negative