The cryptocurrency named XRP has seen a lot of movement recently. Large investors (called ‘whales’) have moved 64 million XRP between exchanges. Because of this, it is not yet known whether the price of XRP will go up or down.
XRP price movement: Recently, a lot of transactions have been seen with this altcoin, a cryptocurrency. Large investors, known as “whales,” have moved approximately 64 million coins between different exchanges. Due to this, there is some confusion in the market, and people are not able to understand whether the price will increase or decrease, and there are some positive signs as well, as the price of this altcoin remains around $0.5, even though it has faced some challenges. Some experts thought that this altcoin could reach $1 by April, but this has not happened yet. People are monitoring closely to see what happens next with the price of this coin.
XRP Whales’ Trading Patterns
Recently, there has been a lot of XRP currency floating around on cryptocurrency exchanges, which has attracted the attention of investors. Based on this information, they estimate how the market is feeling about the altcoin.
A large holder sold $157.2 million worth of coins on the Bitstamp exchange. On the other hand, $158.5 million worth of coins were bought from an address that had bought a lot of XRP in the past on the Binance exchange.
These big purchases show that people have different opinions on whether the price of this altcoin will increase. Also, recent data gives some positive signs, even though the price of XRP is currently having trouble going above $0.5.
XRP Price Stabilizes
The price has been quite stable recently, with a slight decline of only 0.20% to $0.4936. It has fluctuated between $0.4773 and $0.5078 in the last 24 hours.
People are now more interested in this coin following the decision by the US Securities and Exchange Commission (SEC) to reduce its settlement offer from $2 billion to $102.6 million. This legal news has prompted more investors to pay attention to this altcoin.
The total value of all active future contracts for this coin is $560 million. This means that traders are likely feeling positive about XRP’s potential in the future.
However, the RSI, which is a tool that measures whether an asset is overbought or oversold, is at 45, which is neutral. This means it is not clear that the price will reach $1 any time soon, even though experts previously thought it would happen in April. If more people start buying this coin, its price may increase. Crypto enthusiasts are keeping an eye on XRP to see how its price may change.
Also, Read – Whales downsize Dogecoin price
