Ripple (XRP) price made a 4% recovery on May 11 after a 12% decline in the previous seven days. On-chain data shows that intense trading activity by XRP whale investors could be behind the recent upswing. Is it indicative of a more bullish XRP price prediction?
Along with other mega-cap Layer-1 coins, XRP price took a significant hit in the past week. But the intense whale activity and the undersold status of the Ripple-backed XRP ledger native coin presents ample opportunity for strategic investors.
Here is why it could be indicative of a bullish XRP price prediction.
Whales Are Making Big Bets
XRP whales have intensified their trading activity over the previous seven trading days. The chart below shows how the daily transactions exceeding $1 million increased from 15 to 45 between May 6 and May 12.
Whale Transaction Count is a…
