Bitcoin ETF

Bitcoin

Million

<p>The post <a href="https://coinpedia.org/news/whales-move-25-million-xrp-analyst-predicts-further-drop-to-0-55-amidst-price-decline/">Whales Move 25 Million XRP to Bitstamp; Is a Massive Price Drop Incoming?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Who can ever really predict what’s to happen next in the wild wild world of cryptocurrency? Now, a recent 2.58% reduction in total market capitalization has sent shockwaves across major players, including Bitcoin, Ethereum, and, notably, <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/">XRP</a>. </p> 
<p>But what’s truly piquing the interest of analysts is the intriguing dance of 24.60 million XRP tokens making their way to Bitstamp, a prominent crypto exchange, precisely when the market was witnessing a dip.</p> 
<p>What exactly is the correlation, if there is any? Let’s dive in and explore. </p> 
<h2 class="wp-block-heading" id="h-mysterious-moves-what-s-going-on">Mysterious Moves: What’s Going On? </h2> 
<p>Whale Alert, a platform monitoring on-chain data, <a href="https://whale-alert.io/transaction/ripple/8413DC6FC84474BDB624207C7B8420AB054EF8204D8854CCE22D1143667AFBA1">recently reported</a> a transaction involving the movement of 24.60 million XRP to Bitstamp. The transfer, initiated by an unknown wallet address, occurred on December 18 despite the ongoing price drop in its value.&nbsp;</p> 
<p>What’s captured the attention of experts is the consistent flow of large-scale XRP transfers to CEXs (centralized exchanges), notably <a href="https://coinpedia.org/price-analysis/ripple-news-whale-alert-25-4-million-xrp-transferred-to-bitstamp-and-bitso/">Bitstamp and Bitso</a>. The intrigue deepens with Ripple’s strategic acquisition of stakes in these very exchanges. Is it a well-orchestrated move or mere coincidence? The market is buzzing with speculation.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-xrp-price-drop-waiting-to-happen-ali-weighs-in">XRP Price Drop Waiting to Happen? Ali Weighs In</h2> 
<p>As XRP’s value takes a hit, crypto analyst Ali on X offers insights into the potential trajectory. Anticipating a retreat to around $0.55 if XRP continues its journey toward the $0.75 target, Ali highlights the significance of XRP’s position within an ascending parallel channel. A rejection at the channel’s mid-line, warns Ali, could trigger a retracement towards the $0.55 mark.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a> is moving inside an ascending parallel channel! After facing rejection at the channel's mid-line, <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> might see a pullback toward the lower boundary, around $0.55. <a href="https://t.co/1lfCDOAXur">pic.twitter.com/1lfCDOAXur</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1736342920939061454?ref_src=twsrc%5Etfw">December 17, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Presently, XRP is weathering a 1.57% decrease in the last 24 hours, settling at $0.6062. The broader picture reveals a 3.56% decline over the past week, signaling a prevailing bearish sentiment surrounding the token.</p> 
<p>Read More: <a href="https://coinpedia.org/news/xrp-is-poised-for-a-1500-gain-if-it-breaks-this-level-says-top-analyst/">XRP is Poised for a 1,500% Gain If It Breaks This Level, Says Top Analyst</a></p> 
<h2 class="wp-block-heading" id="h-optimism-with-a-hint-of-fear-amp-uncertainty">Optimism With A Hint of Fear &amp; Uncertainty</h2> 
<p>While the Ripple lawsuit with the U.S. Securities and Exchange Commission (SEC) remains a focal point, opinions among traders are divided. The potential <a href="https://coinpedia.org/news/ripples-ipo-anticipation-and-xrps-resilience-amidst-market-uncertainties/">Ripple IPO</a> and the awaited approval of a spot Bitcoin ETF add layers of uncertainty to the mix. Yet, some argue that regulatory concerns might be overshadowed by other influential factors.</p> 
<p>This Might Interest You: <a href="https://coinpedia.org/news/ripple-ipo-update-wall-street-expert-reveals-when-ripple-will-go-public/">Ripple IPO Update: Wall Street Expert Reveals When Ripple Will Go Public</a></p> 
<p>Panos Mekras, co-founder of Anodos Finance, offers a distinct perspective, asserting that the impact of the Ripple lawsuit on <a href="https://markets.coinpedia.org/xrp/">XRP’s price</a> has waned. Clearing XRP of security status, Mekras emphasizes the ecosystem’s ability to forge ahead, underlining the numerous projects building on its robust foundation.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">If that's what most <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a> holders are waiting for and are excited for, I strongly disagree with them. I don't think what happens to the Ripple case matters for XRP itself anymore. XRP has been cleared, it's not a security, the ecosystem moves on along with the hundreds of projects… <a href="https://t.co/U6w5OkCVNm">https://t.co/U6w5OkCVNm</a></p>— Panos 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f53c.png" alt="🔼" class="wp-smiley" style="height: 1em; max-height: 1em;">{X} (@panosmek) <a href="https://twitter.com/panosmek/status/1736478799854755938?ref_src=twsrc%5Etfw">December 17, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>As the crypto rollercoaster continues its twists and turns, the future trajectory of XRP remains uncertain, leaving traders and enthusiasts alike on the edge of their seats.</p>

Whales Move 25 Million XRP to Bitstamp; Is a Massive Price Drop Incoming?

Table of Contents

CoinPedia News

Other articles published on Dec 18, 2023

Analysis of Bitcoin Network Metrics Highlights Sustainability Concerns

Optimism Pertains for Web3 and More Users Will Hopefully Enter

VeChain (VET) Predicted to Rally 185%, Hit $0.077: Here's When

3 Ways Saga Will Enhance the Solana Ecosystem

Expert suggest this Bitcoin rally could have saved FTX, Celsius and more

OKX emerges as leading NFT marketplace with $50.33 million daily trading volume

Join our free newsletter for daily crypto updates!