Sunday, April 2, 2023

XRP Whales Have Increased Their Holding of the Supply to 18.3%

  • Whale activity for XRP has picked up over the last few weeks.
  • Whale Alert shows that 35M XRP was moved to Bitstamp from an unknown address.
  • XRP’s price has risen 2.16% over the last 24 hours.

Crypto whales have been quite busy with the remittance token, Ripple (XRP), over the last few weeks, according to data from the blockchain analysis firm, Santiment. The data also added that whale addresses went from holding 16.7% of XRP’s supply to 18.3% in just the last 5 weeks.

In addition, a tweet made by the crypto analyst Whale Alert shared that 35,000,000 XRP has been transferred from an unknown wallet to Bitstamp. At current prices, this is estimated to be worth approximately $13,809,712.

At press time, CoinMarketCap shows that the price of XRP is trading at $0.3907 following a 2.16% increase over the last 24 hours. This recent price movement has also flipped XRP’s weekly movement into the green as well, as the coin is also up 1.07% over the last 7 days.

Compared to the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), XRP has weakened against both by around 1.16% and 1.51% respectively. The daily trading volume has, however, increased and currently stands at $1,078,644,275 at press time. This is a 22.64% increase compared to the day before.

Daily chart for XRP/USD (Source: CoinMarketCap)

The 9-day EMA is currently positioned below the 20-day EMA on XRP’s daily chart, which is a bearish sign. This bearishness may strengthen in the coming days as the daily RSI line is sloped negatively above the daily RSI SMA line. Furthermore, the daily RSI line may cross bearishly below the daily RSI SMA line.

Should this happen, XRP’s price may experience a slight drop towards the support level resting at $0.3712.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

  • Whale activity for XRP has picked up over the last few weeks.
  • Whale Alert shows that 35M XRP was moved to Bitstamp from an unknown address.
  • XRP’s price has risen 2.16% over the last 24 hours.

Crypto whales have been quite busy with the remittance token, Ripple (XRP), over the last few weeks, according to data from the blockchain analysis firm, Santiment. The data also added that whale addresses went from holding 16.7% of XRP’s supply to 18.3% in just the last 5 weeks.

In addition, a tweet made by the crypto analyst Whale Alert shared that 35,000,000 XRP has been transferred from an unknown wallet to Bitstamp. At current prices, this is estimated to be worth approximately $13,809,712.

At press time, CoinMarketCap shows that the price of XRP is trading at $0.3907 following a 2.16% increase over the last 24 hours. This recent price movement has also flipped XRP’s weekly movement into the green as well, as the coin is also up 1.07% over the last 7 days.

Compared to the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), XRP has weakened against both by around 1.16% and 1.51% respectively. The daily trading volume has, however, increased and currently stands at $1,078,644,275 at press time. This is a 22.64% increase compared to the day before.

Daily chart for XRP/USD (Source: CoinMarketCap)

The 9-day EMA is currently positioned below the 20-day EMA on XRP’s daily chart, which is a bearish sign. This bearishness may strengthen in the coming days as the daily RSI line is sloped negatively above the daily RSI SMA line. Furthermore, the daily RSI line may cross bearishly below the daily RSI SMA line.

Should this happen, XRP’s price may experience a slight drop towards the support level resting at $0.3712.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

 

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