Why rising XRP whale counts are a fake bullish signal
Photo: CryptoSlate
A redistribution of XRP stolen from Binance created six new accounts above the one-million-token threshold on Nov. 2, showing how large-wallet counts can grow through transfers alone. Blockchain analytics firm Bitquery traced the split from one receiving account into seven new accounts, with six clearing the million-token threshold. An address tally can increase through the movement of existing holdings, making its interpretation important before drawing a bullish conclusion. Binance's Nov. 3 report said five of its hot wallets sent 233.46 million XRP to an attacker-controlled address between 20:05 and 20:09 UTC on Oct. 29.
Source: CryptoSlate
