{"id":84347,"date":"2024-07-19T08:38:29","date_gmt":"2024-07-19T12:38:29","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=84347"},"modified":"2024-07-19T08:38:40","modified_gmt":"2024-07-19T12:38:40","slug":"xrp-whales-accumulate-4m-xrp-tokens-is-price-reversal-near","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/xrp-whales-accumulate-4m-xrp-tokens-is-price-reversal-near\/","title":{"rendered":"XRP Whales Accumulate 4M XRP tokens; Is Price Reversal Near?"},"content":{"rendered":"\n

XRP Whales accumulated 47M XRP tokens <\/a>valued at $25.86 million in the face of price declines. This whale's movements have prompted speculation of a price reversal.<\/p>\n\n\n\n

\"XRP
XRP Whales Accumulate 4M XRP tokens; Is Price Reversal Near?<\/em><\/figcaption><\/figure>\n\n\n\n

Amid price fluctuations, XRP, the digital asset associated with Ripple\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, is undergoing significant whale activity. Recent blockchain data has disclosed substantial token movements, with XRP whales amassing over $20 million in tokens during a price decline. Subsequently, this prompts speculation regarding a reversal of insights.<\/p>\n\n\n\n

Market Activity of XRP Whales <\/strong><\/h2>\n\n\n\n

Whales have recently acquired approximately 47 million XRP tokens, valued at $25.86 million. This accumulation has occurred during a period in which its price has fluctuated, leading to speculation regarding a potential market reversal.<\/p>\n\n\n\n

Whale Alert, an on-chain transaction tracker, reported two significant unknown transfers to wallet addresses. The initial transaction involved transferring 22 million tokens ($12.08 million) from Upbit to the wallet “r418\u2026pVGH.” The second transfer involved the transfer of 24.8 million tokens ($13.7 million) from Binance to the wallet “rfQ9\u2026k8Cvi.” This significant accumulation by XRP whales during a price decline implies that confident large investors perceive current prices as an appealing entry point, potentially anticipating price reversals.<\/p>\n\n\n\n

Nevertheless, the market sentiment remains ambiguous. Concurrently with these accumulations, other giants have sold approximately 75 million tokens to exchanges such as Bitstamp, Bitget, and Bitso. Some analysts regard this selling activity as profit-taking, a strategy speculators frequently employ.<\/p>\n\n\n\n

Current Market Performance, Related Developments<\/strong><\/h3>\n\n\n\n

The current price of XRP is $0.5494, with a 24-hour trading volume of $2.1 billion, according to the most recent data. The token's price has decreased by 4.90% in the past day, but it has maintained a 17.94% week-over-week increase. The cryptocurrency's market capitalization is $30.7 billion, with 56 billion XRP in circulation.<\/p>\n\n\n\n

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


In related news, the Securities and Exchange Commission<\/a> has canceled an anticipated closed-door meeting. The recent transfer of 150 million tokens by Ripple, in conjunction with the cancellation of the meeting, has sparked speculation regarding a potential settlement in the ongoing legal case, even though it was not explicitly focused on Ripple.<\/p>\n\n\n\n

The cryptocurrency community is attentively monitoring Ethereum ETFs.<\/a> Several Ethereum ETFs have been granted preliminary approval, and all issuers have satisfactorily fulfilled the S-1 requirements. These Ether ETFs are anticipated to commence trading on July 23, potentially affecting the broader cryptocurrency market, including XRP.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

XRP Whales accumulated 47M XRP tokens valued at $25.86 million in the face of price declines. This whale’s movements have prompted speculation of a price reversal. Amid price fluctuations, XRP, the digital asset associated with Ripple , is undergoing significant whale activity. Recent blockchain data has disclosed substantial token movements, with XRP whales amassing over […]<\/p>\n","protected":false},"author":59,"featured_media":84299,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[143,19733,20659,20658],"class_list":["post-84347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-sec","tag-xrp-price-2","tag-xrp-tokens","tag-xrp-whales-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/07\/EVST24O4XNCIVERNNEVNNXAATY.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/84347","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\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=84347"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/84347\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/84299"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=84347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=84347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=84347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}