XRP readies for its 2023 move as whales frantically fill bags RippleXRP XRPArmy XRPCommunity XRPHolders $XRP
in the last 24 hours, with millions of USDC tokens being moved to Coinbase. Similarly, it was reported that the BUSD stablecoin was being moved to Binance.
Analysts believe that the huge amount of stablecoins entering exchanges might serve as buying pressure for the general market, boosting digital asset prices. It remains to be seen if these stablecoin inflows will impact prices this time or not. According to Coin Metrics, the overall trade volume of stablecoins reached a new high this year, surpassing the $6 trillion mark established in 2021. Meanwhile, the spike in demand for stablecoins could indicate that investors were amassing buying power.Also, XRP appears to be creating a base for its 2023 price action as a typical pattern appears on its chart. The XRP price's daily moving average 50 has crossed below the daily MA 200, confirming the so-called bearish death cross.
Finally, whales continuing their accumulation binge through the end of 2022 could be a portent of better things to come in 2023. Santiment, a blockchain analytics startup, observed millionaire XRP whales filling their bags until the end of 2022. It detects a rapid accumulation of XRP whale and shark addresses, which comprise the 1 million to 10 million XRP tier.
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