Wednesday

April

Ripple’s native crypto, XRP, is dealing with high selling pressure as <a href="https://news.todayq.com/sec-vs-ripple-a-crucial-battle-crypto-industry/" rel="noopener noreferrer nofollow">regulatory clarity</a> still looms in the crypto industry. Its price saw a marginal surge on Wednesday trying to break the previous trends. However, a compelling pattern has emerged on XRP’s price chart that suggests that a major price action is coming ahead. XRP is still struggling 
As we take a look at all days metrics, XRP price is down by more than 20% on the year to date (YTD) basis, while, it is declining by 13% in the last 90 days. Moving ahead, data shows that Ripple’s native crypto price dropped by 10% and 21% in the last 60 days and 30 days, respectively.
Continuing the same trend, XRP price plunged by another 19% over the last 7 days. It is trading at an average price of $0.489, the press time. This trading price is down by a massive 87% from its all time high (ATH) of $3.84 recorded on Jan 4, 2018. Its 24 hour trading volume is down by 35% to stand at $1.55 billion.
The above data shows that the XRP has been unable to hit big numbers despite Ripple gaining a partial win against the US Securities and Exchange Commission (SEC). The crypto has failed to capitalise on the bullish momentum running in the market.
However, an expert has speculated the emerging Bollinger Bands for XRP might help it to find a breakthrough. It mentioned that the current analysis indicates that the Bollinger Bands are experiencing a notable contraction. Crypto whales in action 
On chain tracker Whale Alert has detected huge transfers of XRP to leading exchanges. It has sparked discussions within the Ripple community about potential price implications. A transfer of 28.94 million XRP (valued at $14.22 million) was made to Bitstamp.
Four other larger XRP transfers were registered, with one involving a move of 158.47 million XRP (valued at $77.3 million) from Binance to an unknown wallet. However, a massive transfer of 390.8 million Ripple’s token was recorded on April 15, heading to the South Korean exchange Bithumb.
The XRP community has been actively speculating about the identity of the large XRP holders and the purpose behind these massive transfers. Some believe that Ripple Labs might be involved, in transferring funds to its payment platforms.
Following a significant 29% drop last Friday, XRP has been attempting to recover its losses. Since the weekend, the crypto has managed to regain 14.85% but remains relatively stable, moving sideways on the chart.

A major XRP move coming in? Analyst reveals patterns

Todayq News

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