Crypto analyst Ali Martinez noted a significant drop in whale activity on the XRP network in recent days.
According to data shared by Martinez, the number of large transactions exceeding $1 million on the XRP network has decreased from 157 to 67 in the last 9 days. This indicates a drop of approximately 57.3% in whale activity.
According to the analyst, this weakening in large-scale trading volume suggests the market may be entering a “squeeze” period. Martinez stated that whales may have withdrawn to allow the current price range to settle, which could reduce volatility in the short term and contribute to the maturation of order books.
According to the analyst, while the decline in whale activity isn’t a direct bullish or bearish signal for XRP on its own, it indicates a slowdown in the pace at which large investors are taking active positions in the market. During such periods, the price may move within a narrow range, and the market may search for direction before a larger breakout.
Martinez also drew attention to Zcash (ZEC). According to the analyst, ZEC has gained more than 40% in value in the last week. Noting that the price is currently moving towards the resistance zone between $700-$730, where a strong rejection occurred in November, Martinez added that this level could be a critical threshold for ZEC.
*This is not investment advice.
