Above XRP images investors have reduced their exposure over the past 30 days within a moderate bearish pattern.
As of May 15, holders of the XRP Ledger (XRPL) tracked by the top 100 wallets have downloaded 481,409,805 tokens, worth approximately $693,229,719 at press time, last month. In the last 24 hours, this group of investors cut their stock by 27,085,842 tokens, which is about $38,003,612 at the time of publication, according to data followed by @Chachakobe4erinvestigated by Finbold.
In particular, the top 100 addresses control about 25,386,774,392 XRP, which has a capital of 36.55 billion dollars, which represents about 41% of the total amount in circulation. At the moment, the modified addresses – wallets that have recorded their movement within the time period that was followed – control about 12,601,767,626 XRP, worth about $18.15 billion, which represents about 20.39% of all the tokens circulating. .
Therefore, it is clear that the top XRP holders have been redistributing their positions, which may lead to a reduction in exposure.
What’s next for the price of XRP amid reduced demand from the top?
Amidst the constant distribution from the top, XRP has faced difficulties selling above $1.50 in the last three months. For example, the token fell almost 4% in the last 24 hours, trading at $ 1.45 on Friday, after a daily attempt to collect $ 1.50.
Likewise, the index may continue to decline in the coming days and weeks, with the help of continuous deleveraging, such as Finbold. he explainedamong the most popular sales from whale traders. However, if XRP’s upside resumes, the token could enter a new bull run.
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