XRP (CRYPTO: XRP) has printed a TD Sequential buy signal on the 3-day chart, but analyst Ali Charts warns the signal is likely short-lived as whales have offloaded roughly 60 million XRP over the past week.
The Buy Signal Is Real But Whales Are Not Buying It
The TD Sequential indicator on the 3-day chart historically anticipates a one to four candlestick rebound, offering short-term relief from compression rather than a trend reversal.
The problem is that on-chain data contradicts the bullish read. Overall large-scale whale activity on the XRP network dropped 57.3%, and the few large entities still active are actively distributing rather than accumulating.
“Instead of absorbing circulating supply to support a bullish breakout, active whales have offloaded roughly 60 million XRP over the past week,” Ali …
