<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/whale-activities-influence-xrp-price" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whale Activities Influence XRP Price</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/market-witnesses-surge-in-xrp-as-investor-interest-skyrockets" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP</a>‘s price, after reaching a daily peak of $0.5276, experienced a retreat over the past 24 hours. Despite the price drop, the recent surge caught the attention of market observers. The decline in price coincided with significant whale activities, as highlighted by Whale Alert.</p>
<h2 id="whale-transactions-revealed">Whale Transactions Revealed</h2>
<p style="text-align: justify">At the time of writing, XRP maintained a bearish outlook, with prices falling 1.16% from the day’s high to $0.5204. This price drop was accompanied by a 1.11% decrease in XRP’s market value, bringing it down to $28.9 billion. However, trading volume in the past 24 hours saw a notable increase of 6.47%, surpassing $1.2 billion, suggesting <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> might be looking to purchase XRP at reduced prices.</p>
<p style="text-align: justify">Recent transactions showed that XRP whales transferred substantial amounts to exchanges. One notable transfer involved 28,890,000 XRP, approximately valued at $15,025,812, from an unknown wallet to Bitstamp. Another transaction saw 29,850,000 XRP, worth around $15,522,089, moved to Bitso exchange.</p>
<h2 id="why-did-derivatives-volume-decline">Why Did Derivatives Volume Decline?</h2>
<p style="text-align: justify">Meanwhile, XRP’s volume on derivatives exchanges dropped by 1.61% to $646.70 million, potentially indicating a slowdown in trading activities or an upcoming market consolidation.</p>
<h2 id="key-insights-for-investors">Key Insights for Investors</h2>
<p style="text-align: justify">Here are some actionable insights for investors:</p>
<ul>
 <li>Increased trading volume amid price drop may signal buying interest at lower prices.</li>
 <li>Significant whale transfers to exchanges could influence price volatility.</li>
 <li>Decrease in derivatives volume might suggest reduced speculative activities.</li>
 <li>Money flow indicators hint at potential <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> buying pressure as it approaches the oversold region.</li>
</ul>
<p style="text-align: justify">Looking at the XRP chart, the MACD continues to show a negative trend with a value of -0.0006. This trend persists as selling pressure in the market remains high. The CMF also stays in the negative region, indicating money is flowing out of XRP, suggesting the market is currently in a selling phase.</p>
<p style="text-align: justify">Additionally, the MFI nearing the oversold region at 29.56 signals that new buying pressure may soon emerge. Investors should closely monitor these indicators for potential market shifts.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/whale-activities-influence-xrp-price" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whale Activities Influence XRP Price</a></h5>

Whale Activities Influence XRP Price

Table of Contents

BH NEWS

Other articles published on Jun 7, 2024

Brett Makes Another All-Time High; What Next In BRETT Crypto

Investors Switch To BlockDAG Post Moon Keynote Propelling Presale To Reach $42.3M Before the Doge...

BREAKING: Bitcoin Price Plummeted – Below $69,000! What Caused the Decline? Here is the Liquidati...

JASMY Prints Giant Cup and Handle Pattern Signaling Major Bullish Movement Taking JASMY Price to ...

Investors Move from Kaspa and Stacks to New Meme Coin After Stellar Performance

GameStop Rally Boosts Roaring Kitty Memecoins to New Highs

Join our free newsletter for daily crypto updates!