Million

Optimism

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/whale-buys-12-7-million-worth-of-xrp/" data-wpel-link="internal">Whale Buys $12.7 Million Worth of XRP</a> 
Ripple Labs-supported altcoin XRP is once again drawing attention in the <a href="https://en.coin-turk.com/crypto-market-rides-high-as-bitcoin-tests-57000/" data-wpel-link="internal">cryptocurrency market</a>. On-chain data revealed the presence of a whale who accumulated 30 million coins in the last 24 hours, increasing speculation about the altcoin’s <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">future</a> price movements. 
<h2 style="text-align: justify" id="strong-whale-buys-12-7-million-worth-of-xrp-strong">Whale Buys $12.7 Million Worth of XRP</h2> 
Optimism about XRP’s potential to reach the $0.50 level has captured market interest amid these whale activities. The RDA…Pxr wallet address transferred approximately 29.7 million XRP coins worth $12.7 million from Binance to an anonymous wallet (rfQ…Cvi). This large-scale accumulation move and the price increase have renewed interest in the Ripple Labs-supported altcoin. Currently, the wallet address holds a total of 31.59 million XRP coins. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-368543" src="https://coin-turk.com/wp-content/uploads/2024/07/Altcoin-Ripple-XRP.png" alt="" width="251" height="570"> 
XRP experienced a turbulent period at the beginning of July, with its price dropping to its lowest level since March 2023. On July 5, during a market-wide crash, the altcoin’s price fell by 12% to approximately $0.38. After this drop, bulls managed to recover some losses. Analysts believe that if the bull trend continues, XRP could rally towards the resistance level at $0.45 and then target the $0.50 level. 
However, if selling pressure increases again, the altcoin‘s price could test the support level at $0.407 and potentially fall to $0.369. Such price movements necessitate cautious optimism among XRP investors. 
<h2 style="text-align: justify" id="strong-prominent-xrp-advocate-announces-additional-xrp-purchase-strong">Prominent XRP Advocate Announces Additional XRP Purchase</h2> 
Bill Morgan, a prominent figure in the XRP community, stated that he saw the recent drop as a buying opportunity and purchased some XRP at just over $0.40. Morgan hinted that he plans to buy more coins if the price drops to $0.375. 
From a <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">technical analysis</a> perspective, XRP’s daily Relative Strength Index (RSI) at 58.8 has entered the overbought zone, indicating potential bullish momentum. According to recent data, XRP is trading at $0.4336, having risen by 7.79% in the last 24 hours, while it has fallen by 8.72% in the last 7 days. XRP’s circulating supply is 56 billion, and its market cap stands at $24.1 billion. The $1.1 billion trading volume recorded in the last 24 hours also reflects active interest in XRP trading. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/whale-buys-12-7-million-worth-of-xrp/" data-wpel-link="internal">Whale Buys $12.7 Million Worth of XRP</a></h5>

Whale Buys $12.7 Million Worth of XRP

Table of Contents

COINTURK NEWS

Alte articole publicate pe 6 iul. 2024

Daddy Tate Price Prediction: DADDY Pumps 7% After Andrew Tate Announces Airdrop, And This P2E Mem...

Best Altcoin For Long Term That Can Surpass Bitcoin: Top Expert Picks for Best Altcoin to Buy Now

BONK Price Faces Potential Drawdown as Investors Turn Bearish

FTX $16B Distribution Plan Could Lead To Buying Pressure For BTC, SOL

Crypto Whales See Opportunity in Crisis: What They're Buying Now

What Ethereum’s future holds after ETH erases ‘pre-ETF approval’ gains

Join our free newsletter for daily crypto updates!