- More than 21,000 new XRP wallets were added within two days, marking the fastest increase in eight months.
- Transactions on decentralized exchanges reached record levels during a period of XRP price decline.
- Whale outflows of XRP decreased, indicating less large holder selling pressure.
- The data suggests a potential market bottom for XRP despite recent weakness.
In the last 48 hours, over 21,000 new wallets for XRP were created, representing the quickest growth rate observed in eight months. This surge in wallet activity coincides with a period of price weakness experienced by XRP.
At the same time, decentralized exchange transactions involving XRP hit record highs. This spike in trading coinciding with a price drop suggests non-organic trading activity within the market.
Additionally, whale outflows—large transfers of the token by major holders—have moderated. This easing in whale selling pressure points to a potential stabilization or bottoming in the XRP market.
These developments highlight contrasting market behaviors, with growing interest suggested by new wallets and high decentralized exchange activity, alongside reduced selling from significant holders. Further details can be found at the related sources.
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