Whale addresses increase your share of XRP: from 8.24 % to 9.44 %-what does that mean for the market?

Whale addresses increase your share of XRP: from 8.24 % to 9.44 %-what does that mean for the market?

Whale addresses and their importance for the XRP market

In the cryptocelt, whale addresses are of great importance, since they can keep large amounts of cryptocurrency and thus have a significant impact on market movements. Currently, whale addresses now hold 9.44 % of the total XRP offer, an increase compared to 8.24 % in January of this year. This increase could indicate growing trust in the cryptocurrency or are based on solid investment opportunities.

In addition, the general economic situation is important for the development of cryptocurrencies. The Fedwatch tool, which analyzes market developments and monetary policy of the US Federal Reserve, assumes that interest rates in the current range will remain from 4.25 % to 4.5 %. These stable interest rates could create favorable conditions for some investors to enter the cryptom market or keep their existing positions.

Another important indicator is the relative strength index (RSI), which is used to identify overhanged or oversized conditions of a financial value. Values ​​under 30 typically indicate an oversized market, while values ​​over 70 indicate an overbought market. Talks about the RSI and its interpretation can provide information about whether the market for XRP can currently be classified as attractive or risky.