🚨 NEW: Bitcoin whales accumulate during dip as exchange outflows hit 3.2% on 30-day average, mirroring H1 2022 pattern before bull market began, per @glassnode’s analyst. https://t.co/M4Vz3Rx6Jd ...

Core Viewpoint - XRP price is attempting to stabilize after a significant market-wide sell-off, with a brief drop to around $1.50 before rebounding to approximately $1.61, indicating a potential technical bounce, but on-chain and flow data suggest the recovery is weak [1] Group 1: Market Dynamics - The XRP price remains within a long-term falling channel that has been active since early July, with the recent bounce occurring near the lower boundary around $1.50, attracting buyers [2] - The buying activity is primarily driven by short-term traders, whose share of XRP supply increased from about 1.99% to 5.27% between January 31 and February 1, indicating a significant rise in speculative ownership [5] - Historical data shows that when XRP peaked near $2.35 on January 5, this same group held around 4.83% of the supply, and as the price stalled, they quickly reduced their holdings, contributing to a price decline [6] Group 2: Investor Behavior - Short-term traders tend to buy dips and sell early, indicating that the current support for XRP is based on fast-moving capital rather than long-term conviction, which poses a risk if the price struggles near resistance [7] - Exchange outflows, which typically indicate buying or long-term holding, have decreased significantly, dropping from 31.38 million XRP on January 31 to around 9.81 million by early February, a decline of nearly 70% [8][9] - This decline in exchange outflows occurred while XRP experienced a price drop of about 14% from its late-January highs, suggesting weakening broader demand [9]

🚨 UPDATE: Bitcoin recorded $2.06B in exchange outflows this week, while Ethereum saw $642.7M withdrawn, as $BTC rose 4.1% and $ETH gained 2.7% week-over-week. https://t.co/VHVSVhYwa0 ...