Coin

<ul class="news-points"> 
 <li>XRP valued at $20.98 million was sent out of the MEXC exchange.</li> 
 <li>Buying momentum had become weak, suggesting another slide for the token.</li> 
 <li>Open Interest decreased, indicating a possible dump to $0.55.</li> 
</ul> 
According to the Whale Alert X handle, a whale moved <a href="https://coinedition.com/xrps-lowest-negative-point-is-a-good-opportunity-for-contrarian-investors-analyst/">Ripple (XRP)</a> worth $20.98 million from the MEXC exchange to another wallet on December 10. This transfer happened as XRP continued to trade sideways following its tumble from $0.63 on January 3.&nbsp; 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
 <img decoding="async" width="598" height="281" src="https://coinedition.com/wp-content/uploads/2024/01/Whale-Alert-wallet.png" alt="" class="wp-image-361468" srcset="https://coinedition.com/wp-content/uploads/2024/01/Whale-Alert-wallet.png 598w, https://coinedition.com/wp-content/uploads/2024/01/Whale-Alert-wallet-300x141.png 300w, https://coinedition.com/wp-content/uploads/2024/01/Whale-Alert-wallet-380x179.png 380w, https://coinedition.com/wp-content/uploads/2024/01/Whale-Alert-wallet-159x75.png 159w, https://coinedition.com/wp-content/uploads/2024/01/Whale-Alert-wallet-440x207.png 440w, https://coinedition.com/wp-content/uploads/2024/01/Whale-Alert-wallet-414x195.png 414w, https://coinedition.com/wp-content/uploads/2024/01/Whale-Alert-wallet-326x153.png 326w, https://coinedition.com/wp-content/uploads/2024/01/Whale-Alert-wallet-377x177.png 377w, https://coinedition.com/wp-content/uploads/2024/01/Whale-Alert-wallet-123x58.png 123w, https://coinedition.com/wp-content/uploads/2024/01/Whale-Alert-wallet-129x61.png 129w" sizes="(max-width: 598px) 100vw, 598px">
 <figcaption class="wp-element-caption">
 <a href="https://twitter.com/whale_alert/status/1744920781602148427" target="_blank" rel="nofollow">Whale Alert</a>
 </figcaption>
 </figure>
</div> 
XRP was trading at $0.56 at press time following a 10.25% plunge in the last seven days. Despite the lackluster performance, the substantial outward transfer from MEXC to a non-exchange wallet suggests at least one whale has faith in the long-term potential of XRP. 
<h2 class="wp-block-heading" id="h-buyers-have-no-strength">Buyers Have No Strength</h2> 
Based on the 4-hour XRP/USD chart, the cryptocurrency has been consolidating between $0.55 and $0.58 since January 3. Coin Edition observed the RSI on the chart and noticed that the buying momentum has been slow. 
As of this writing, the RSI was 45.57. The recent trend shown by the indicator revealed that buyers have repeatedly tried to push up the <a href="https://coinedition.com/ripple-xrp-price-prediction/">XR…</a>
The post <a href="https://coinedition.com/xrp-price-flounders-as-36-96m-tokens-transferred-off-of-mexc/">XRP Price Flounders as 36.96M Tokens Transferred off of MEXC</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

XRP Price Flounders as 36.96M Tokens Transferred off of MEXC

Table of Contents

Coin Edition

Other articles published on Jan 10, 2024

Fundstrat’s Tom Lee Sees Bitcoin (BTC) Price Hitting $150K in 12 Months

Hack Letter from US Senators to SEC Chairman! "Fake Bitcoin ETF News is Unacceptable!"

Spot Bitcoin ETF optimism prevails despite SEC hack

Wintermute Reports 400% Surge in OTC Crypto Trading Volumes for 2023

JPMorgan CEO’s Contradictory Stance on Bitcoin

SEC Issues New Statement on Yesterday’s Bitcoin Spot ETF News Hack

Join our free newsletter for daily crypto updates!