Shift

Shuffle

PEPE

In a riveting turn of events, XRP, one of the largest cryptos by global market cap, has recently taken a bearish turn, slipping to the $0.48 price level amid a consolidation. The token’s price trajectory further waned today, during which XRP whales have once again taken action to shuffle nearly 64 million XRP to and fro <a href="https://coingape.com/glossary/centralized-cryptocurrency-exchanges-cex/" target="_blank" rel="noopener">CEXs</a> in the past 24 hours. This has filled a bag of mixed market sentiments among crypto enthusiasts while also presenting the token with significant buying and selling pressure in hand. Here’s an overview of the XRP’s current on-chain stats and price movements. 
<h2 id="whales-shuffle-coins-birthing-market-uncertainty">Whales Shuffle Coins Birthing Market Uncertainty</h2> 
Notably, on-chain statistics illustrate that two separate whale transactions collectively aided in the transfer of 64.54 million XRP. A renowned whale has continued to add to his XRP holdings, whereas another renowned whale offloaded the same. 
According to the data revealed by the on-chain transaction tracker Whale Alert, 32.89 million XRP, worth $15.75 million, was accumulated by the address rarG6FaeYh from Binance. Conversely, the address 5XgwHh4Rzn offloaded 31.65 million XRP, worth $15.14 million, to Bitstamp. While one of these transactions stages as a bullish factor, the other comes on the contrary. 
It’s worth noting that the address ..Rzn is a well-known <a href="https://coingape.com/xrp-price-near-0-5-level-whales-stir-87m-coins-what-next/" target="_blank" rel="noopener">XRP whale</a> that constantly transfers coins to the exchanges Bitstamp and Bitso. Meanwhile, the whale rarG6… has recently started to bag XRP amid the coin’s recent slip near the $0.5 price level. 
These transactions have ignited mixed sentiments among investors surrounding the token’s future price trajectory, emerging in stark contrast to each other. Simultaneously, XRP takes the heat, showcasing a turbulent price movement dominantly in the negative territory in recent days, emerging in tandem with these transactions. 
Also Read: <a href="https://coingape.com/crypto-prices-today-june-12-btc-eth-altcoins-continue-bearish-movement-pepe-price-soars/" target="_blank" rel="noopener">Crypto Prices Today June 12: Bitcoin &amp; Altcoins Extend Bearish Movement, PEPE Price Rallies</a> 
<h2 id="xrp-price-plunges">XRP Price Plunges</h2> 
As of writing, <a href="https://coingape.com/price/xrp/" target="_blank" rel="noopener">XRP</a> traded at $0.4814, down 1.28% in the past 24 hours. The token’s 24-hour bottoms and tops are $0.4726 and $0.487, respectively, illustrating a tight trading session. 
Notably, weekly charts show that XRP’s price has been consolidating below the $0.5 price level since June 8, with the trajectory finally waning to the $0.48 level yesterday. Moreover, the token has shown signs of a pullback in the same time frame, dipping 8.52%. This has raised severe investor concerns orbiting future movements. 
<img decoding="async" class="aligncenter wp-image-201871" src="https://coingape.com/wp-content/uploads/2024/06/XRP-weekly-chart.png" alt="XRP weekly chart" width="499" height="309" srcset="https://coingape.com/wp-content/uploads/2024/06/XRP-weekly-chart.png 932w, https://coingape.com/wp-content/uploads/2024/06/XRP-weekly-chart-300x186.png 300w, https://coingape.com/wp-content/uploads/2024/06/XRP-weekly-chart-768x475.png 768w, https://coingape.com/wp-content/uploads/2024/06/XRP-weekly-chart-150x93.png 150w" sizes="(max-width: 499px) 100vw, 499px"> 
Meanwhile, the RSI dipped further, nearing 33, underscoring the downside pressure on the asset. However, this could also mean that XRP could reach an oversold territory to see a price upswing moving ahead. 
Also Read: <a href="https://coingape.com/bitcoin-miner-capitulation-can-extend-btc-price-drop-to-62500/" target="_blank" rel="noopener">Bitcoin Miner Capitulation Can Extend BTC Price Drop to $62,500</a> 
The post <a href="https://coingape.com/xrp-price-struggles-to-reach-0-49-whales-shift-64m-coins-what-next/">XRP Price Struggles To Reach $0.49 As Whales Shift 64M Coins, What’s Next?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

XRP Price Struggles To Reach $0.49 As Whales Shift 64M Coins, What’s Next?

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