Amidst the tariff turmoil of early April, XRP plunged into the unknown as it lost the critical $2 support zone . Simultaneously, traders made a vote of confidence in the token by generating enough buying pressure to return it, by press time, to $2.01, with ‘smart money’ investors playing a pivotal role on April 9, per the data Finbold retrieved from Spotonchain on April 11. XRP smart money moves and token price. Source: Spotonchain Specifically, ‘smart money’ provided two-week-high inflows on the day, taking advantage of the ‘dip,’ and stabilizing XRP above $1.75. Interestingly, data reveals that these experienced traders were also not certain how low the token would go, as records show no significant buying at the April 7 $1.65 lows. Indeed, veteran investors appear to have waited for the market to find a bottom and entered the game only after XRP made its first downward correction on its path to recovery. Are the smart money XRP inflows bullish? While the ‘smart money’ buying in April can be comforting, other data points indicate the situation has yet to truly turn bullish once more. According to a Finbold report from April 10, the supply of XRP available on major cryptocurrency exchanges dropped to a monthly low of 2.74 billion. While such a setup tends to limit selling pressure, it could also signal few believe the token will be making noteworthy moves in the foreseeable future. Simultaneously, a drop in trading volume likewise indicates that XRP is returning to relative price dormancy after a surge in activity during the tariff-induced downturn. However, it leaves a chance of sudden and large moves amidst lower liquidity. XRP one-week price chart. Source: Finbold Recent trading is not encouraging and indicates that investors should examine other asset types, such as bonds , stocks , and other digital coins and tokens when gauging whether XRP will move. External headwinds overcome XRP tailwinds There has been no shortage of positive developments for XRP, such as the launch of a leveraged exchange-traded fund ( ETF ), the disbandment of the Department of Justice’s (DoJ) cryptocurrency task force, and the overturning of an IRS rule targeting digital asset platforms, but negative and external factors have been having a far greater impact on the token. Despite tariffs having no direct impact on cryptocurrencies in the short term and boasting only a vicarious effect in the long term, the Liberation Day announcement ensured a market-wide downturn for digital assets, with XRP losing its long-held support zones. The post Is the smart money accumulating XRP? appeared first on Finbold .
https://www.digistore24.com/redir/325658/ceobig/
