<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

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Інші статті, опубліковані 6 лип. 2024 р.

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