{"id":79767,"date":"2024-05-29T04:32:20","date_gmt":"2024-05-29T08:32:20","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=79767"},"modified":"2024-05-29T04:33:03","modified_gmt":"2024-05-29T08:33:03","slug":"xrp-whale-moves-50m-coins-at-0-52-1-possible","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/xrp-whale-moves-50m-coins-at-0-52-1-possible\/","title":{"rendered":"XRP Whale Moves 50M Coins at $0.52, $1 Possible?"},"content":{"rendered":"\n

XRP Whale<\/a> keeps moving significant amounts\u00a0of coins to exchanges, raising\u00a0investors' concerns. In recent days, XRP has traded sideways near the\u00a0$0.52 price level.<\/p>\n\n\n\n

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

Ripple Labs supported cryptocurrency XRP, which continues to garner significant interest within the cryptocurrency community.<\/p>\n\n\n\n

The token's price trajectory has sparked a tumult of speculation among crypto market participants and investors due to its sluggish movement.<\/p>\n\n\n\n

Notably, amid the Ripple-backed token's volatile price movement, a well-known XRP whale has sold nearly 50 million coins on an exchange, exacerbating the impact on tokenomics.<\/p>\n\n\n\n

Participants in the cryptocurrency market continue to speculate regarding the likelihood that the Ripple-backed coin\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> will reach the highly anticipated $1 price benchmark soon as this whale continues to dump substantial quantities of tokens onto exchanges.<\/p>\n\n\n\n

XRP Whale Dump: A Bearish Concern<\/h2>\n\n\n\n

Whale Alert, a platform that monitors on-chain transactions, has identified the offloading of approximately 50 million tokens within the past 24 hours.<\/p>\n\n\n\n

According to the data, a renowned XRP whale using the address Rzn was reportedly dumping the amount mentioned above on CEXs Bitstamp and Bitso.<\/p>\n\n\n\n

The initial transaction involved the transfer of 29.28 million XRP to Bitstamp<\/a>, worth\u00a0$15.40 million.<\/p>\n\n\n\n

Concurrently, a $10.45 million value of 19.88 million XRP was transferred to Bitso, as depicted in the second transfer.<\/p>\n\n\n\n

As a result of these transactions, exchanges for the Ripple-backed asset are experiencing increased supply pressure, which impedes XRP's price from escalating.<\/p>\n\n\n\n

In addition, on-chain and technical statistics for the crypto obscure the trajectory of future price fluctuations.<\/p>\n\n\n\n

Meanwhile, it is noteworthy that esteemed crypto market analysts Egrag Crypto and Dark Defender have maintained their optimistic stance regarding XRP's potential to surpass $1 shortly.<\/p>\n\n\n\n

On the contrary, recent market data suggests otherwise.<\/p>\n\n\n\n

XRP Price Fluctuates Near $0.52, What's Happening?<\/h2>\n\n\n\n

Based on data from CoinMarketCap, XRP's weekly chart indicates that the token consolidates within the price range of $0.51 to $0.54.<\/p>\n\n\n\n

The Ripple-backed token was trading at $0.5299 at the time of writing, an increase of 0.94% from yesterday.<\/p>\n\n\n\n

Additionally, the 24-hour lows and highs documented were $0.5226 and $0.5326, respectively.<\/p>\n\n\n\n

Coinglass data further rationalizes XRP's turbulent movement.<\/p>\n\n\n\n

The derivatives volume decreased by 26.57% to $718.00 million, while the OI increased by 4.07% to $639.03 million.<\/p>\n\n\n\n

This information highlighted diminished market activity for the asset; however, fresh capital entered the futures market, indicating investor interest despite the asset's lethargic price movement.<\/p>\n\n\n\n

In addition, the RSI remained near 51, indicating that the asset is neither overbought nor oversold.<\/p>\n\n\n\n

Collectively, the data shows that the token is ripe for a takeover by bulls or bears.<\/p>\n\n\n\n

In the interim, the FIT21 crypto measure<\/a> and the regulatory uncertainty generated by the Ripple vs. SEC lawsuit further complicate the scenario regarding the future price fluctuations of XRP.<\/p>\n","protected":false},"excerpt":{"rendered":"

XRP Whale keeps moving significant amounts\u00a0of coins to exchanges, raising\u00a0investors’ concerns. In recent days, XRP has traded sideways near the\u00a0$0.52 price level. Ripple Labs supported cryptocurrency XRP, which continues to garner significant interest within the cryptocurrency community. The token’s price trajectory has sparked a tumult of speculation among crypto market participants and investors due to its sluggish […]<\/p>\n","protected":false},"author":56,"featured_media":79770,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[16008,146,19733],"class_list":["post-79767","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-xrp-whales","tag-xrp","tag-xrp-price-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/05\/XRP-Whale-Moves-50M-Coins-at-0.52-1-Possible.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/79767","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=79767"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/79767\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/79770"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=79767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=79767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=79767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}