Token

Rally

when

<ul> 
 <li>During this recent downturn, rapidly increasing whale activity recorded by a blockchain tracker in the last 24 hours seems to be gaining significant momentum across the broader crypto market.</li> 
 <li>A transfer to Bitstamp contained 21.1 million XRP worth $14.42 million, while a transfer to Bitso included 16.4 million XRP worth $11.21 million.</li> 
 <li>At the time of writing, XRP’s price has dropped by 2.47% in the last 24 hours and is currently trading at $0.687.</li> 
</ul> 
<p><strong>Ripple’s XRP token has drawn attention by remaining stagnant amid the bullish rally in the crypto market; Why isn’t the price rising?</strong></p> 
<h2 id="strong-stagnation-in-ripple-s-xrp-token-price-amid-rally-strong"><strong>Stagnation in Ripple’s XRP Token Price Amid Rally</strong></h2> 
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-127228" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Ripple-XRP-7.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="Ripple-XRP" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Ripple-XRP-7.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Ripple-XRP-7.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Ripple-XRP-7.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Ripple-XRP-7.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Ripple-XRP-7.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Ripple-XRP-7.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Ripple-XRP-7.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p> 
<p>Today, on March 14th, XRP, a cryptocurrency supported by Ripple Labs, triggered a broad wave of speculation among crypto market traders and investors when its price dropped below $0.69 after a notable increase exhibited in the past few days. During this recent downturn, rapidly increasing whale activity recorded by a blockchain tracker in the last 24 hours seems to be gaining significant momentum across the broader crypto market.</p> 
<p>According to data disclosed by Whale Alert, the surprisingly mobile 177.5 million XRP illustrates downward trends in the market dynamics of the Ripple-backed token today, leading to a series of striking outcomes. According to Whale Alert’s data, three major transactions involved massive transfers from Ripple to two Centralized Exchanges (CEXs) and an accumulation of a substantial amount of XRP from Ripple to an unknown wallet.</p> 
<p>In the first transaction, $95 million worth of 140 million XRP accumulated by Ripple from the address rP4X2hTa7A…7XZ63sKxv3 was shown. The other two transactions showcased significant transfers from a well-known XRP whale to two CEXs named Bitstamp and Bitso. The transfer to Bitstamp contained 21.1 million XRP worth $14.42 million, while the transfer to Bitso included 16.4 million XRP worth $11.21 million.</p> 
<p>Following the emergence of these transactions, a mixed sentiment prevailed among whales in the market as the mentioned transactions displayed both accumulations and dumps. However, XRP traded in the red today, indicating a downward trend as derivative data significantly dropped.</p> 
<h2 id="strong-xrp-experienced-a-decline-strong"><strong>XRP Experienced a Decline</strong></h2> 
<p>At the time of writing, XRP’s price has dropped by 2.47% in the last 24 hours and is currently trading at $0.687. Accompanied by a 2.47% market value decrease and a 34.05% drop in 24-hour trading volume, XRP presented a non-bullish landscape today.</p> 
<p>This non-bullish landscape was further supported by a 0.85% decrease in open positions and a 52.32% volume decrease, according to data from Coinglass. Traders expect more bullish movements in the future as investors close their positions. However, it is critical for the token to close above $0.68, which is the daily support, for further upside.</p> 
<div class="code-block-grte code-block-grte-2" style="margin: 8px 8px 8px 0; float: left;"> 
 <table style="width: 100%; border-collapse: collapse;"> 
  <tbody> 
   <tr> 
    <td style="width: 100%; text-align: left; background-color: #f2f2f2; padding: 10px;"> <a href="https://t.me/coinotagpro_bot/" target="_blank" rel="noopener"> <strong> <span style="color: #000000;">CLICK TO HERE TO JOIN</span> <span style="color: #e67e22;">OINOTAG PRO + COPY TRADE BASED ON NEWS TRADING</span> </strong> </a> </td> 
   </tr> 
  </tbody> 
 </table> 
</div>  
<p>The post <a rel="nofollow" href="https://en.coinotag.com/why-isnt-xrp-price-gaining-sufficient-bullish-momentum/">Why Isn’t XRP Price Gaining Sufficient Bullish Momentum?</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>

Why Isn’t XRP Price Gaining Sufficient Bullish Momentum?

Daftar Isi

CO NEWS

Artikel lain yang dipublikasikan pada 14 Mar 2024

Swiss Cardano whale stakes in DeeStream as Bitcoin hits new highs

Exploring the interplay between meme coins and native networks

Ethereum Network Successfully Implements Dencun Enhancement

Grayscale’s GBTC sees over $10B outflow, marking a record withdrawal

Ripple (XRP) & Cardano (ADA) Price Forecast: InsanityBets (IBET) Set to Outperform with Unprecede...

JPMorgan Reveals the “Main Reason” for the Big Rally in Bitcoin

Bergabunglah dengan buletin gratis kami untuk pembaruan kripto harian!