CryptoQuant Research Director: XRP whales are accelerating the transfer of tokens to CEX, and the coin price may face short-term pressure.

BlockBeats news, on August 8, CryptoQuant's research director Julio Moreno pointed out that as large XRP holders accelerate transferring assets to trading platforms, the price of the token may face short-term pressure. "The sudden acceleration of whale funds flowing into trading platforms may indicate a price turning point, as these large investors may start selling," Moreno stated. CryptoQuant data shows that as of Thursday, the 30-day moving average of XRP whales transferring to trading platforms has increased from 141 million coins in early July to 260 million coins. Whale activity significantly impacts market sentiment. Moreno added that in July, the price of XRP fell after a surge in whale fund inflows. Notably, on July 18, the day it reached an all-time high, XRP whales transferred 660 million tokens to trading platforms, and the price subsequently dropped to $3 in the following week.