XRP Crash Fears Mount As Whale Dumps 26 Million Tokens

Name	Symbol	Market	Market Cap ($)	Algorithm
Binance Coin	BNBUSD	Crypto	93,230,553,608	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Binance Coin

BNBUSD

Crypto

93,230,553,608

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	4.32	0.74%	589.89	589.53	590.02

Price Change

Price Change %

Current Price

Bid Price

Offer

4.32

0.74%

589.89

589.53

590.02

High Price	Low Price	Open Price	Prev. Close	52 Week Range
590.76	581.58	586.46	585.58	210.00 - 683.83

High Price

Low Price

Open Price

Prev. Close

52 Week Range

590.76

581.58

586.46

585.58

210.00 - 683.83

Exchange	Last Trade	Size	Trade Price	Currency
BINA	14:18:36	0.519000	589.89	USD

Exchange

Last Trade

Size

Trade Price

Currency

BINA

14:18:36

0.519000

589.89

USD

Price x Volume	Volume	Base Symbol	Related Pairs
10,415,988.35	17,759.70	BNB	BNBEUR	BNBGBP	BNBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

10,415,988.35

17,759.70

XRP Crash Fears Mount As Whale Dumps 26 Million Tokens – Details

22/01/2024 1:00pm

NEWSBTC

In the world of cryptocurrencies, XRP has once again captured the attention of market enthusiasts with a surge in whale activity. The movement of a staggering 26.8 million XRP tokens has sparked speculation among traders and investors alike. Blockchain data tracked by Whale Alert, a renowned tracker of large cryptocurrency transactions, revealed that an unknown wallet, identified as r4wf7enWPx…5XgwHh4Rzn, transferred the substantial amount of XRP. Related Reading: From Highs To Lows: Solana’s Price Journey – Can It Recover From FOMO Fumble? Ripple’s Strategic Moves Trigger XRP Transfers The tokens, valued at approximately $14.75 million, were sent to Bitstamp, a prominent exchange based in Luxembourg City, Europe. Interestingly, this is not the first time the mentioned wallet has made similar transfers to Bitstamp during periods of price dips. The recurrent nature of these transactions has piqued the interest of market participants, especially considering Ripple’s recent strategic stake acquisition in the exchange. Source: Whale Alert The correlation between Ripple’s involvement and the XRP transfers to Bitstamp has not gone unnoticed by astute traders and investors. However, the recent movement of XRP tokens aligns with a downward trend in the token’s price. XRP’s value has experienced a decline of 2.34% in the past 24 hours, trading at $0.5389 at the time of writing. The weekly chart also paints a dreary picture, showing a significant fall of 7.30%, while the monthly downturn stands at 12.61%. Both market capitalization and trading volume have also taken a significant hit. XRP currently trading at $0.53084 on the daily chart: TradingView.com Despite the prevailing market sentiment, XRP Whale, a reputable crypto market analyst, remains bullish on the token’s prospects. Contrary to the price decline, the analyst predicts that February will bring positive developments for the Ripple-backed cryptocurrency. Investor Skepticism Persists Amid Market Volatility Such optimism is met with skepticism, as investors grapple with the current state of the market and seek reassurance amid the ongoing volatility. It is important to remember that the cryptocurrency market is highly unpredictable, and caution should always be exercised when making investment decisions. Related Reading: Binance Coin (BNB) Blasts Off: 10% Gain Sparks $350 Price Predictions While the whale activity surrounding XRP and the positive outlook from XRP Whale may spark intrigue, it is crucial to conduct thorough research and seek advice from financial professionals before making any investment moves. Worries of an XRP crash are rampant, fueled by the recent whale sell-off and a confluence of negative technical indicators. The coming days and weeks will be crucial in determining whether XRP can weather this storm or succumb to the immense selling pressure. Featured image from iStock

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