Whale Moves $15 Mln XRP To Exchange, Nosedive To $0.42?

Another Whale Dumps XRP Holdings

Whale Alert in a post on April 25 reported that a whale moved 29,300,000 XRP valued at $15.13 to crypto exchange Bitstamp. Further data also revealed that the whale is potentially dumping its XRP holdings it transferred 14 million XRP to Bitso a few hours earlier.

advertisement

Judge Torres allowing the U.S. Securities and Exchange Commission to file an interlocutory appeal in response to XRP token sales caused a major selloff. XRP price plunged below two critical support levels of $0.6 and $0.5.

XRP price currently rebounding from the $0.5 support level and risks a massive fall if traders and whales decide to sell their holdings.

Meanwhile, Ripple vs SEC trial is likely to happen in April-end or mid-May as the plaintiff SEC and defendants Ripple Labs, CEO Brad Garlinghouse, and executive chairman Chris Larsen have informed the court about their unavailability in the second quarter of 2024. XRP price rebounded in response, but bulls failed to hold the upside momentum.

Recommended Articles
ethereum price crypto news
Crypto Presale Projects For 2023 To Invest; Updated List
Must Read
crypto exchange affiliate programs
Best Crypto Trading Bots List 2023
Must Read
ethereum price crypto news
Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated]
Must Read
ethereum price crypto news
Crypto Telegram Channels List 2023 [Updated]
Must Read
ethereum price crypto news
Top 10 Web3 Games To Explore In 2023; Here List
Must Read

Read More: US SEC Attorneys Richard Best And Robert Moye Withdraw From XRP Lawsuit

XRP Price Risks Nosedive to $0.42

According to an Analysis by CoinGape Markets, a bearish candle wick stretched to $0.42 last week. It is too early to tell if the fifth-largest crypto will rebound from the ascending trendline toward the coveted $1, or extend the declines to $0.42 or worse $0.3.

xrp price at $0.515

XRP is trading below all the major moving averages, including the 50-day Exponential Moving Average (EMA) (red), the 100-day EMA (blue), and most importantly the 200-day EMA (purple) at $0.5253.

XRP price fell more than 3% in the last 24 hours, with the price currently trading at $0.51. The 24-hour low and high are $0.510 and $0.528. Furthermore, the trading volume has decreased in the past 24 hours.

Also Read: FTX Claims Agent Kroll’s Cybersecurity Breach Compromised Claimants Data

Comments

Post a Comment

Popular posts from this blog

Bitcoin, Ethereum Technical Analysis: BTC Nears $17,000 Ahead of Christmas Day

Image
Bitcoin rose closer to the $17,000 level on Saturday, despite crypto markets mostly consolidating to start the week. The global cryptocurrency market cap is down 0.32% as of writing. Ethereum was also higher earlier in the day, with prices nearing the $1,230 level. Bitcoin Bitcoin (BTC) remained under the $17,000 level to start the weekend, as prices continued to consolidate despite earlier gains. BTC/USD hit a high of $16,905.22 earlier in today’s session, which comes a day after price was at a bottom, at the $16,793.53 mark. The move saw the world’s largest cryptocurrency continue to trade above a key point of support at $16,800. BTC/USD – Daily Chart As can be seen from the chart, earlier gains have somewhat eased, as the 14-day relative strength index (RSI) failed to break above a ceiling at 48.00. The index is currently trading at 46.72, with bulls still attempting to push past the aforementioned point of resistance. On the other hand, should price stre...
Read more

Bitcoin Leads $168 Million 'Smart-Money' Outflows

Image
According to a new report by CoinShares, the digital asset industry saw a whopping $168 million worth of out flows over the last week, with Bitcoin (BTC) leading the pack. This represented the highest out flows from the sector “since the US regulatory crackdown on exchanges in March 2023.” According to CoinShares, BTC was at the center of the out flows , with $149 million. Ethereum (ETH), on the other hand, saw out flows worth $16.8 million. On a month-to-date basis, Bitcoin saw out flows of $251.2 million, while Ethereum saw out flows of $29.8 million. The total out flows for the month of August now sit at $278 million. Meanwhile, XRP and Litecoin (LTC) saw minor in flows of $0.5 million and $0.44 million, respectively. Also Read: Argentina is Adopting Bitcoin Faster than El Salvador: Ark Invest However, the report noted that fund flows remain positive for BTC on a yearly basis, with $265 million. Source: CoinShares Additionally, CoinShares mentioned tha...
Read more

Kraken Persists With Plans to Launch Its Bank Despite Facing Regulatory Obstacles

Image
Join Our Telegram channel to stay up to date on breaking news coverage Kraken crypto exchange is still working on launching its bank, despite the challenging regulatory environment and the recent shutdown of its on-chain staking services for U.S customers The Securities and Exchange Commission (SEC) had accused Kraken of violating securities laws. Nonetheless, Kraken remains steadfast in its commitment to its plans. Kraken’s chief legal officer, Marco Santori, confirmed on The Scoop podcast with Frank Chaparro that the company is on track to launch its own bank. He also shared that Kraken plans to order thousands of pens with little ball chains and their logo to distribute to Wall Street banks. Despite obstacles, Kraken continues to move forward with its plans to establish its financial institution. #Kraken continues its plan to launch its own bank despite a difficult regulatory environment. "Kraken Bank is on track to launch very soon," said Marco Santori, Krak...
Read more