{"id":1684,"date":"2024-12-03T19:13:07","date_gmt":"2024-12-03T19:13:07","guid":{"rendered":"https:\/\/coinsvalue.net\/blog\/cryptoquant-ceo-warns-not-to-short-xrp-due-to-insider-whale-activity\/"},"modified":"2024-12-03T19:13:07","modified_gmt":"2024-12-03T19:13:07","slug":"cryptoquant-ceo-warns-not-to-short-xrp-due-to-insider-whale-activity","status":"publish","type":"post","link":"https:\/\/coinsvalue.net\/blog\/cryptoquant-ceo-warns-not-to-short-xrp-due-to-insider-whale-activity\/","title":{"rendered":"CryptoQuant CEO Warns Not To Short XRP Due To Insider Whale Activity"},"content":{"rendered":"

XRP has experienced an extraordinary surge in recent weeks, with its price skyrocketing by 380% over the past 23 days. In just the last four days, the price jumped 75%, reaching a peak of $2.87 on December 2. This rapid ascent appears to be fueled by significant buying activity from large investors, commonly known as “whales.”<\/p>\n

Ki Young Ju, CEO of on-chain analysis firm CryptoQuant, premium ranged from 3% to 13% during the surge.<\/p>\n

In contrast, Upbit\u2014a Korean exchange with more XRP investors than Binance\u2014showed no significant premium, suggesting the buying pressure is predominantly originating from the United States.<\/p>\n

\"XRP<\/p>\n

On his alternative X account (@kate_young_ju), Ki Young Ju hinted at possible insider activity influencing the market dynamics, stating, “Someone knew something.”<\/p>\n

Today, he spot ETF approval,\u201d he speculated.<\/p>\n

\"XRP<\/p>\n

He further shared a chart \u201cXRP: Retail Activity Through Trading Frequency Surge (Spot & Futures), which indicates that retail trading activity for XRP has surpassed the highs of 2021 and is nearing levels last seen in January 2018, when XRP reached its all-time high of $3.92.<\/p>\n

Observing the one-year cumulative volume delta (CVD) of taker buy\/sell volume, he remarked: \u201c1-year CVD of Taker Buy\/Sell Volume for XRP shows a historic rebound. Whales are aggressively using market orders, driving overwhelming demand.\u201d<\/p>\n

A 700% Rallye Incoming For XRP Against BTC?<\/h2>\n

From a technical analysis perspective, crypto analyst Jacob Canfield emphasizes the importance of examining the XRP\/BTC pairing. He notes<\/a> that XRP is currently at a critical resistance zone on the BTC pair chart (XRPBTC), having just reached the $2.75 level on the USDT pair\u2014a resistance point since December 2019.<\/p>\n

Canfield suggests that a breakout here could signal a potential 240% move back to key resistance zones from 2017, 2018, and 2019. “If we get real FOMO, then we could be setting up for another 700% move to all-time high against Bitcoin,” he commented, acknowledging the “two of the strongest monthly candles for XRP that we’ve seen in over 5 years.”<\/p>\n

\"XRP<\/p>\n

Looking at shorter time-frames of the XRP\/USD pair, Canfield highlights<\/a> the utility of support and resistance levels to identify new entry points in these time frames. \u201cIn bull markets, you need to use low time frame support\/resistance to find new entries. 5 min\/15 min are the best. XRP as an example – $2.20 was the clear S\/R invalidation. Base of the biggest green candle = base of impulse. Usually the best place to re-enter a trade.\u201d<\/p>\n

At press time, XRP traded at $2.63.<\/p>\n

\"XRP<\/p>\n","protected":false},"excerpt":{"rendered":"

XRP has experienced an extraordinary surge in recent weeks, with its price skyrocketing by 380% over the past 23 days. In just the last four days, the price jumped 75%, reaching a peak of $2.87 on December 2. This rapid ascent appears to be fueled by significant buying activity from large investors, commonly known as…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[146],"tags":[86,1136,40,46,47,147,1137],"class_list":["post-1684","post","type-post","status-publish","format-standard","hentry","category-xrp-news","tag-cryptoquant","tag-ki-young-ju","tag-xrp","tag-xrp-news","tag-xrp-price","tag-xrp-price-analysis","tag-xrp-whale-activity"],"_links":{"self":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/1684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/comments?post=1684"}],"version-history":[{"count":0,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/1684\/revisions"}],"wp:attachment":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media?parent=1684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/categories?post=1684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/tags?post=1684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}