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<ul class="news-points"> 
 <li><strong>XRP rose above the $0.50 psychological zone after its earlier 5.50% rise.</strong></li> 
 <li><strong>Whales sold, and an overbought condition could lead the XRP price downwards.</strong></li> 
 <li><strong>The bullish bias has not entirely been neutralized despite the current sellers’ presence.</strong></li> 
</ul> 
<p>Ripple (XRP) posted 5.50% gains over the last seven days as <a href="https://coinedition.com/why-bitcoin-traders-should-watch-out-for-the-33698-support/">Bitcoin (BTC)</a> led a significant crypto market recovery. The rise culminated in the token’s jump above the $0.50 psychological resistance.</p> 
<p>At press time, XRP exchanged hands at $0.55. However, there could be some concerns as regards the XRP price action. On October 29, whale tracking platform Whale Alert revealed that XRP worth $14.82 million was transferred into the BitStamp exchange.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 26,700,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#XRP</a> (14,829,710 USD) transferred from unknown wallet to <a href="https://twitter.com/hashtag/Bitstamp?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Bitstamp</a><a href="https://t.co/q9dftYWg5A" target="_blank" rel="nofollow">https://t.co/q9dftYWg5A</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1718750132131299573?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">October 29, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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</figure> 
<p>When a large transfer like this occurs, it is a sign of a notable sell-off. The selling pressure was evident in the XRP/USD 4-hour chart as the price trended downwards. However, XRP showed strength as the token resisted a sharp plunge.</p> 
<p>Despite the stability displayed, XRP was still at risk of a nosedive. This was indicated …</p>
<p>The post <a rel="nofollow" href="https://coinedition.com/xrp-faces-a-big-obstacle-after-whales-begin-sell-offs/">XRP Faces a Big Obstacle After Whales Begin Sell-Offs</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

XRP Faces a Big Obstacle After Whales Begin Sell-Offs

Coin Edition

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