42.5 million XRP shifted to crypto exchanges, triggering speculation
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
XRP, the sixth-largest cryptocurrency by market cap, has seen a significant transfer of millions of tokens. The move was detected by blockchain watchers, with crypto data tracker WhaleAlert reporting two such transactions.There are several reasons why tokens are moved to cryptocurrency exchanges, one of which is to be sold. There are speculations that such movements might presage selling or be preparation for significant trading activity.
The flat moving averages and RSI at the midpoint might suggest that supply and demand are in equilibrium. This might keep XRP trading between the range of $0.56 and $0.69 in the days ahead.If the price climbs above $0.69, the buyers might gain an edge. That might pave the way for a potential rally to the daunting level of $0.74. On the downside, a loss below $0.56 may take XRP to $0.48.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
XRP Eyes Abnormal Multimillion Activity on Korean Market Amid XRP Price DramaXRP price rally triggers 30 million XRP transfer from major Korean exchange
Read more »
XRP Sudden Price Reversal Triggers $25.67 Million Losses: DetailsXRP quickly gained 8% in one hour as news of Ripple's upcoming stablecoin surfaced
Read more »
XRP Alert: 16 Million XRP Bought by Single Whale on Major Korean ExchangeTiming of transactions coincides with rumors of potential settlement between Ripple and SEC
Read more »
XRP Alert: Massive 210 Million XRP Move Sparks IntrigueXRP spurs attention with latest on-chain activity
Read more »
XRPL Architect Debunks XRP Price MisconceptionsDavid Schwartz, Ripple's CTO and XRP Ledger architect, dispels misconceptions surrounding XRP's price dynamics
Read more »
XRP Adds $2 Billion to Market Cap as XRP Price Suddenly PumpsUnexpected XRP price rally brings additional $1.7 billion to market cap of popular cryptocurrency
Read more »