bullish

Coin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/whales-purchase-large-amounts-of-xrp-tokens/" data-wpel-link="internal">Whales Purchase Large Amounts of XRP Tokens</a><br></p>
<p style="text-align: justify">In recent weeks, after a court decision, Ripple’s native token <a href="https://en.coin-turk.com/xrps-potential-last-chance-for-low-price-purchase-according-to-analyst/" data-wpel-link="internal">XRP</a> surpassed the $0.60 level. Following this process, there were significant price fluctuations in the market, and XRP was also affected. Despite a recent rise, the market saw a decline today, but XRP whales made notable purchases of XRP tokens in the last 24 hours.</p> 
<h2 style="text-align: justify" id="xrp-coin-comments">XRP Coin Comments</h2> 
<p style="text-align: justify">In a new post on X, it was noted that XRP whales purchased over 50 million tokens in the last 24 hours, increasing their XRP holdings by over $29.5 million at the current price. This situation showed that whales turned the price drop to their advantage.</p> 
<p style="text-align: justify">On the other hand, the purchase by the whales coincided with <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">an announcement</a> by the Los Angeles-based film studio Fruition Production about an XRP documentary.</p> 
<p style="text-align: justify">According to on-chain data provider Coinglass, <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> and traders seem to be leaning towards long positions over short positions in the last seven days. As of the time of writing, the main liquidation levels for traders were $0.575 on the downside and $0.604 on the upside.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-383607" src="https://coin-turk.com/wp-content/uploads/2024/08/xrp-1-coin-turk-com-1.png" alt="" width="582" height="247"></p> 
<p style="text-align: justify">If the XRP price potentially drops to $0.575, it is seen that $18 million worth of long positions will be eliminated. Conversely, if a positive outlook re-emerges and the price returns to $0.604, approximately $13.3 million worth of short positions will be liquidated.</p> 
<h2 style="text-align: justify" id="xrp-coin-price">XRP Coin Price</h2> 
<p style="text-align: justify">Technical analyses showed that XRP continued to stay above the 200 Exponential Moving Average (EMA) on the daily timeframe, which can be interpreted as a bullish outlook. On the other hand, XRP also indicated a bullish potential due to the formation of an inverse head and shoulders price pattern in daily price reviews.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-383608" src="https://coin-turk.com/wp-content/uploads/2024/08/xrp-2-coin-turk-com-2.png" alt="" width="583" height="256"></p> 
<p style="text-align: justify">However, in the short term, a scenario where the XRP price drops to $0.558 could also emerge. In the long term, it can be said that XRP continues its upward trend. If the daily price candle closes above $0.645, XRP could rise to $0.90 in the coming days, driven by a price increase of over 40%.</p> 
<p style="text-align: justify">As of the time of writing, XRP experienced a 1.29% increase in the last 24 hours, influenced by whale accumulation, and is trading at $0.5992. On the other hand, the trading volume increased by 18.48%, indicating investor interest in buying.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/whales-purchase-large-amounts-of-xrp-tokens/" data-wpel-link="internal">Whales Purchase Large Amounts of XRP Tokens</a></h5>
<p>The post <a href="https://en.coin-turk.com/whales-purchase-large-amounts-of-xrp-tokens/" data-wpel-link="internal">Whales Purchase Large Amounts of XRP Tokens</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Whales Purchase Large Amounts of XRP Tokens

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