XRP, a digital currency, has been getting noticed lately because its price hasn’t changed much. A Whale, called Rzn, just sold a bunch of XRP coins.
Investors are worrying that not much XRP is available. After this happened, the price of XRP was still between 51 and 54 cents. No one knows for sure if the coin will ever reach $1 because it depends on how governments will regulate it and what happens in the overall market.
Tracking Whale’s Movement
Someone with a huge amount of XRP coins (generally called a whale), recently moved a lot of coins to two cryptocurrency exchanges. This could bring the prices down. Imagine a store selling apples, if they suddenly got a bunch more apples, the price might go down a bit. Other things can affect the prices too, but this is one thing to keep in mind.
A lot of coins, almost around 50 million, moved to two exchanges called Bitstamp and Bitso on the last day.
XRP Relative Strength Index (RSI)
A measure of recent trading activity for the coin, called RSI(Relative Strength Index), sits around 51. This may indicate a neutral zone, which is neither strongly increasing nor decreasing in price.
The future price of the coin is unclear due to ongoing lawsuits and new regulations. These uncertainties make it difficult to predict how much the coin’s will cost in the future.
XRP’s Price Fluctuates
The price of the coin is sticking around $0.52 lately, which is a small increase since yesterday. It’s been bouncing between $0.51 and $0.54 recently. While new investors are putting money into it, the total amount of trading is going down.
While some new investors are getting into XRP, overall trading activity has decreased. This suggests that people are still interested in this, but uncertainty remains. Keep an eye on the coin, it’s a cryptocurrency with potential. Its future price will be influenced by market trends and government regulations.
Investors are watching the prices of the altcoin with bated breaths, still unclear whether to buy or sell this cryptocurrency.
The volatile nature of crypto markets is not nothing new. Investors should do their own research before buying or selling any crypto coins.
Also Read: XRP Altcoin on the Brink of Potential Price Decline?
