Blockchain analytics firm Santiment says XRP whale activity has hit a three-month high.

According to the company, transactions exceeding $100,000 on the XRP ledger suddenly spiked to levels not seen since May.

Santiment also said that the term “rekt”, a satirical misspelling of “wrecked” often used to describe traders suffering huge losses, has exploded across social media. meeting on Friday when liquidation was rampant in the crypto markets.

The analytics firm is also eyeing Dogecoin (DOGE) and its competitor Shiba Inu (SHIB). According to Santiment, DOGE and SHIB whales can largely be sold at the top of their respective rallies when large deals explode simultaneously.

At the time of writing, XRP is trading at $0.34.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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XRP Whale Transactions Rise To Three-Month High

Blockchain analytics firm Santiment says XRP whale activity has hit a three-month high.

According to the company, transactions exceeding $100,000 on the XRP ledger suddenly spiked to levels not seen since May.

???? #XRP is seeing notable whale activity, as well as high optimism, in Friday's closing trading hours. We've picked up a spike of $100k+ $XRP transactions that hasn't been equaled since May 13th. Additionally, sentiment is at its highest since April. https://t.co/lXz1LfyrCR pic.twitter.com/DuEhLrtWfs

— Santiment (@santimentfeed) August 19, 2022

Santiment also said that the term “rekt”, a satirical misspelling of “wrecked” often used to describe traders suffering huge losses, has exploded across social media. meeting on Friday when liquidation was rampant in the crypto markets.

???? The term #rekt has been skyrocketing in #crypto as long #liquidations were plentiful to end the week. As many traders were riding the upward price trend since late June, #Bitcoin's drop to $20.8k and #Ethereum's drop to the low $1,600's caused chaos. https://t.co/TrOUUnnTpt pic.twitter.com/QmSNP7EUn0

— Santiment (@santimentfeed) August 20, 2022

The analytics firm is also eyeing Dogecoin (DOGE) and its competitor Shiba Inu (SHIB). According to Santiment, DOGE and SHIB whales can largely be sold at the top of their respective rallies when large deals explode simultaneously.

???? #Dogecoin and #Shibainu have both experienced major price corrections after their respective Tuesday and Sunday tops. As is often the case, the whales foreshadowed the ideal profit taking moments when their large transactions exploded on each network. https://t.co/6QoIoxkknt pic.twitter.com/p3BAMjcav1

— Santiment (@santimentfeed) August 19, 2022

At the time of writing, XRP is trading at $0.34.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News

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