<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/whale-boosts-xrp-holdings" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whale Boosts XRP Holdings</a><br></p>
<p style="text-align: justify">Ripple Labs-backed altcoin <a href="https://en.bitcoinhaber.net/messari-reports-surge-in-xrp-ledger" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP</a> is currently capturing attention in the cryptocurrency <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market</a>. Recent on-chain <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data shows</a> a significant whale activity, where an entity accumulated 30 million XRP coins within 24 hours. This large-scale acquisition has fueled speculations on the future price movements of the altcoin.</p>
<h2 id="whale-s-major-xrp-purchase-raises-eyebrows">Whale’s Major XRP Purchase Raises Eyebrows</h2>
<p style="text-align: justify">The acquisition involved transferring 29.7 million XRP, valued at $12.7 million, from Binance to an anonymous wallet. This transaction has strengthened optimism about XRP’s potential to reach the $0.50 mark. The wallet now holds 31.59 million XRP coins, signaling a renewed interest in XRP.</p>
<p style="text-align: justify">XRP faced a challenging period at the beginning of July, with its price plummeting to its lowest level since March 2023. During a market crash on July 5, XRP’s price dropped 12% to around $0.38. Bulls managed to recover some losses, and analysts believe that continued bullish momentum could push XRP towards $0.45 and potentially $0.50.</p>
<h2 id="what-if-the-selling-pressure-increases">What If the Selling Pressure Increases?</h2>
<p style="text-align: justify">However, if selling pressure resurfaces, XRP’s price might test the support level at $0.407 and could even drop to $0.369. Investors are advised to maintain cautious optimism given these potential fluctuations.</p>
<h2 id="actionable-insights-for-investors">Actionable Insights for Investors</h2>
<p style="text-align: justify"><strong>Actionable Insights</strong></p>
<ul>
 <li>Monitor whale wallet activities for potential market impact.</li>
 <li>Consider buying opportunities if prices drop to around $0.40 or below.</li>
 <li>Stay updated on technical indicators like RSI for better trading decisions.</li>
</ul>
<p style="text-align: justify">Prominent XRP advocate Bill Morgan recently disclosed he purchased XRP over $0.40, viewing the recent dip as an opportunity. He expressed intentions to buy more if prices fall further to $0.375.</p>
<p style="text-align: justify">From a technical standpoint, XRP’s daily Relative Strength Index (RSI) has entered the overbought zone at 58.8, suggesting potential bullish momentum. Despite a 7.79% rise in the last 24 hours, XRP has fallen 8.72% over the past week. With a circulating supply of 56 billion XRP and a market cap of $24.1 billion, the $1.1 billion trading volume in the last 24 hours highlights strong trading interest.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/whale-boosts-xrp-holdings" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whale Boosts XRP Holdings</a></h5>

Whale Boosts XRP Holdings

Obsah

BH NEWS

Ďalšie články zverejnené 6. 7. 2024

Valora launch Mobile Stack to get Web3 Apps on the Move

Justin Sun MoveS to Ease Bitcoin Selling Pressure with $2.3B Purchase Offer

Binance Exec Testifies, Says The Exchange Was Involved in Money Laundering

Discover The Power Of MoonBag Staking Rewards: Your Path to Massive Crypto Gains

Most Promising Crypto Initiatives for July 2024

Become a Crypto Millionaire via Exciting MoonBag Staking Rewards: Your Ticket to Financial Freedo...

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!