XRP Whale Transactions Plummet 57% Amid Price Decline
- Whale Transaction Decline: Over the past nine days, XRP network transactions worth over $1 million dropped from 157 to just 67, representing a 57.3% decline, indicating a significant reduction in participation from large holders during the price downturn.
- Continued Price Drop: XRP's price fell from $1.54 on May 14 to around $1.35, marking five consecutive intraday losses for the first time in over two months, with an approximate 8% decline during this five-day period.
- Weakened Market Participation: Analyst Ali Martinez highlighted that the drop in whale activity reflects diminished confidence among major investors, and while some mid-sized holders continued to accumulate XRP during the dip, overall market activity remains subdued.
- Compression Phase Formation: Martinez characterized the current market as a compression phase, where despite fewer large trades, some wallets are quietly accumulating XRP, indicating selective buying among mid-sized holders, which may set the stage for future price movements.
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Technical Analysis for BAND
Technical Sentiment Analysis for Band Protocol (BAND). As of , Band Protocol (BAND) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 4 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BAND stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BAND is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Band Protocol (BAND) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.153 | 0.17 | 0.186 | 0.203 | 0.219 | 0.236 | 0.252 |
| Fibonacci | 0.17 | 0.182 | 0.19 | 0.203 | 0.215 | 0.223 | 0.236 |
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