{"id":73848,"date":"2024-03-19T03:54:21","date_gmt":"2024-03-19T07:54:21","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=73848"},"modified":"2024-03-19T04:08:35","modified_gmt":"2024-03-19T08:08:35","slug":"xrp-selloff-whale-sells-100-mln-coins-amid-market-corrections","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/xrp-selloff-whale-sells-100-mln-coins-amid-market-corrections\/","title":{"rendered":"XRP Selloff: Whale Sells 100 Mln Coins Amid Market Corrections"},"content":{"rendered":"\n

Amid the latest crypto market corrections <\/a>and enormous selloffs, a well-known XRP whale sold off nearly 100 million coins.<\/p>\n\n\n\n

\"XRP<\/figure>\n\n\n\n

The remarkable selloffs executed by an XRP whale during the recent corrections in the cryptocurrency market have generated significant attention. <\/p>\n\n\n\n

Following a remarkable pump in recent days, XRP has now regained its bearish momentum, which represents a noteworthy development in the cryptocurrency landscape on March 19.<\/p>\n\n\n\n

Amidst the recent crypto market corrections, almost all altcoins experienced a bearish trend, as Bitcoin (BTC) fell below the $70,000 threshold. <\/p>\n\n\n\n

These selloffs sparked a cyclone of speculations regarding the future price action of XRP, with some speculating on the likelihood of a decline below the $0.6 support level.<\/p>\n\n\n\n

Examining the XRP Whale's Selloffs Amid Market Corrections<\/h2>\n\n\n\n

As reported by CoinGape Media, 99.85 million XRP have been unloaded to CEXs since March 15, when leading cryptocurrency prices plummeted significantly due to a massive selloff in the cryptocurrency market, according to information disclosed by the blockchain tacker whale Alert.<\/p>\n\n\n\n

On March 15, one of the most renowned XRP whales,…Rzn, offloaded an astonishing 50.40 million XRP, transferring 22.8 million and 27.60 million coins to Bitstamp and Bitso, respectively.<\/p>\n\n\n\n

From that point forward, the same whale has continued to sell substantial quantities of XRP.<\/p>\n\n\n\n

Bitstamp received 24.85 million XRP, valued at $15.44 million, on March 17, while the same address sold an additional 24.60 million XRP, valued at $14.84 million, to the CEX today.<\/p>\n\n\n\n

As supply gains on CEXs for XRP continued to soar, a tidal wave of conjecture erupted among crypto market traders<\/a> and investors worldwide.\u00a0<\/p>\n\n\n\n

The Ripple-backed token, in particular, exhibited bearish indications with a 13.16% weekly decline.<\/p>\n\n\n\n

Meanwhile, as of press time, its price had momentarily fallen below $0.6 today, causing investors to be vigilant as market dynamics add on to the bearish market sentiments regarding XRP.<\/p>\n\n\n\n

XRP Price Slips<\/h2>\n\n\n\n

At the time of writing, the price of XRP has decreased by 12.85% in the past 24 hours and is currently trading at $0.6024.<\/p>\n\n\n\n

Continuing to project a bearish outlook with its RSI hovering around 47, the token signifies that a selling sentiment is prevalent in the market today.<\/p>\n\n\n\n

This was consistent with the previously mentioned selloffs and contributed to the token's continued bearishness; its price fell below $0.6 today.<\/p>\n\n\n\n

On the other hand, Coinglass highlighted data indicating that XRP's open interest\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> increased by 4.06% and that volume in the derivatives market increased by a remarkable 138.59%.<\/p>\n\n\n\n

This stands in opposition to the bearish market sentiments surrounding Ripple-backed tokens, as it indicates significant capital inflows coupled with increased market activity.<\/p>\n\n\n\n

While investors continue to monitor the token in anticipation of a possible reversal trend, a buying-the-dip sentiment may be contributing to this increase in open interest.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amid the latest crypto market corrections and enormous selloffs, a well-known XRP whale sold off nearly 100 million coins. The remarkable selloffs executed by an XRP whale during the recent corrections in the cryptocurrency market have generated significant attention.  Following a remarkable pump in recent days, XRP has now regained its bearish momentum, which represents […]<\/p>\n","protected":false},"author":56,"featured_media":73853,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[16008,146],"class_list":["post-73848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-xrp-whales","tag-xrp"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/03\/blackrock-xrp1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/73848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=73848"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/73848\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/73853"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=73848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=73848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=73848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}