- The price of XRP has fallen 0.45% over the last 24 hours.
- XRP’s price is trading below the 9-day and 20-day EMA lines at press time.
- Santiment data shows that there are 1,617 XRP shark and whale addresses.
The price of Ripple (XRP), much like the prices of the rest of the top 10 cryptos by market cap, is down over the last 24 hours. According to the crypto market tracking website, CoinMarketCap, XRP’s price is down 0.45% over the last 24 hours. The remittance token’s price has also fallen 12.30% over the last 7 days. As a result, XRP is trading at $0.3424 at press time.
XRP has also weakened against Bitcoin (BTC) and Ethereum (ETH) by 0.98% and 0.96% respectively.
The price of XRP is currently trading below the 9-day and 20-day EMA lines after it declined significantly over the last week. The remittance token’s daily chart looks bearish at press time as the 9-day EMA is positioned below the 20-day EMA and the daily RSI line is sloped negatively towards the oversold territory.
Furthermore, the daily RSI line is positioned below the daily RSI SMA line. The 9-day EMA line is also breaking away below the 20-day EMA line, which suggests that the bearish pressure on XRP’s daily chart is growing stronger.
XRP whales and sharks have seen the continued price drop as an opportunity to acquire XRP coins. A tweet posted by Santiment, the blockchain analytics firm, shows that XRP addresses holding between 1 million and 10 million XRP have been rapidly accumulating as 2022 comes to an end.
The tweet added that “both the amount of these sized addresses (1,617) and their percentage of supply held (7.23%) have hit a new all-time high (ATH).”
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