Token

Sponge

SPONGE

Coin

<p>The XRP price soared 15% to trade for $0.6973 as of 02:06 a.m. EST time on trading volume that skyrocketed 315%.</p>
<p>The surge followed reports by Whale Alert on X that indicate large token movements from crypto exchange Binance. The blockchain data tracker <a href="https://whale-alert.io/transaction/ripple/20830E593C1327AEDEA0916194C16C0139BA869358E9433B69E2612D17DCE57D" target="_blank" rel="noopener noreferrer nofollow">identified</a> a transfer of 300 million XRP tokens worth around $187 million by the time the tokens were leaving Binance’s address and deposited into an unknown wallet.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 300,000,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> (187,134,686 USD) transferred from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> to unknown wallet<a href="https://t.co/n6uoHsu3BZ" rel="noopener noreferrer nofollow">https://t.co/n6uoHsu3BZ</a></p>
 <p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1766024121635213448?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 8, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>After this transfer, several others followed, defined by&nbsp;<a href="https://whale-alert.io/transaction/ripple/CCAE6ECCB02CF2E75EA8320DAC14E889D48B8349344E3E661CB1E7691CA954D6" rel="noopener noreferrer nofollow">similar</a>&nbsp;<a href="https://whale-alert.io/transaction/ripple/7837C4713A0974E4A2E7E659B8CCD1E6624E6F8B37FF3DD17F93A7AD8A1F8EB0" target="_blank" rel="noopener noreferrer nofollow">outbound</a>&nbsp;<a href="https://whale-alert.io/transaction/ripple/8947DB926407F30FA41A186DCB5FC7B3E42FFB8005174134B6F086218F3C4B55" rel="noopener noreferrer nofollow">transactions</a>&nbsp;totaling approximately 18-19 million XRP each. These were moved from Binance to different addresses, and suggest that whales are accumulating XRP before the Ripple price extends north.</p>
<p>Nevertheless, some may argue that the large transactions were the handiwork of exchanges trying to move coins to new addresses in what is often referred to as internal wallet maintenance.</p>
<h2 id="xrp-price-growing-interest">XRP Price: Growing Interest</h2>
<p>Pointing to a growing interest in Ripple’s XRP token, the surge in price and trading volume also follows XRPLedger’s Automated Market Maker (AMM) activation. This feature will allow XRP holders to earn passive income by providing liquidity.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">WOW! 💥</p>
 <p>XRP LEDGER AMM AMENDMENT PASSED WITH MAJORITY VOTES, <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> HOLDERS WILL EARN PASSIVE INCOME ON THIS CONDITION: <a href="https://t.co/ovgSHQlzat" rel="noopener noreferrer nofollow">https://t.co/ovgSHQlzat</a></p>
 <p>— Amelie (@_crypto_lbarbie) <a href="https://twitter.com/_crypto_lbarbie/status/1766978327980507219?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 11, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>In addition, the XRP holders that provide liquidity to AMMs could receive a proportionate amount of earnings by sharing risk.</p>
<h2 id="details-about-xrpledger-s-amm-as-xrp-price-forges-north">Details About XRPLedger’s AMM As XRP Price Forges North</h2>
<p>On March 22 at 22:10 GM, XRPLedger, a decentralized public blockchain, will see the activation of an AMM. This is according to data from XRPscan. XRP holders continue to anticipate a positive impact from this development on both the XRP price as well as Ripple.</p>
<p>The XLS-30D amendment, which put forward the activation of an AMM on the ledger, provides community members an opportunity to earn passive income by offering liquidity to pools. The main element of the AMM amendment is that the XRPLedger will be linked to decentralized exchanges (<a href="https://insidebitcoins.com/news/3-best-decentralized-exchanges" target="_blank" rel="noopener noreferrer nofollow">DEXes</a>) seamlessly.</p>
<p>In addition, liquidity providers, who are effectively XRP holders, will also enjoy a proportionate amount of earnings courtesy of the liquidity staking pool. This is because they share the associated exchange risk. Specifically, there will be liquidity pool tokens for XRP holders who provide liquidity, also in proportion to their deposits, alongside voting privileges on the AMM’s trading charge.</p>
<p>According to Stedas, a crypto researcher, XRP holders can earn passive income from liquidity pools.&nbsp;This has been detailed in the visual representation below.</p>
<p><a href="https://insidebitcoins.com/wp-content/uploads/2024/03/AMM-scaled.jpeg" rel="noopener noreferrer nofollow"><img decoding="async" class="alignnone wp-image-488152 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/03/AMM-scaled.jpeg" alt="XRPLedger AMM" width="1228" height="2560" srcset="https://insidebitcoins.com/wp-content/uploads/2024/03/AMM-scaled.jpeg 1228w, https://insidebitcoins.com/wp-content/uploads/2024/03/AMM-144x300.jpeg 144w, https://insidebitcoins.com/wp-content/uploads/2024/03/AMM-491x1024.jpeg 491w, https://insidebitcoins.com/wp-content/uploads/2024/03/AMM-768x1601.jpeg 768w, https://insidebitcoins.com/wp-content/uploads/2024/03/AMM-737x1536.jpeg 737w, https://insidebitcoins.com/wp-content/uploads/2024/03/AMM-983x2048.jpeg 983w" sizes="(max-width: 1228px) 100vw, 1228px"></a></p>
<h2 id="xrp-price-prediction-as-ripple-community-members-anticipate-xrpledger-s-amm-activation">XRP Price Prediction As Ripple Community Members Anticipate XRPLedger’s AMM Activation</h2>
<p>The XRP price broke above the confines of a descending parallel channel on the weekly timeframe, and is currently eyeing the $0.8000 threshold, nearly 15% above current levels. The odds favor the upside considering momentum is still rising as shown by the ascending Relative Strength Index (RSI).</p>
<p>The histogram bars of the Awesome Oscillator (AO) are also flashing green in positive territory, to show the bulls have a strong presence in the XRP market. The volume indicator is also registering growing histogram bars, pointing to a trend that is growing stronger.</p>
<p>If the bulls have their way, the XRP price could extend north, potentially going as high as the $1.0000 psychological level. In a highly bullish case, the XRP price could foray into the supply zone between $1.0133 and $1.5655. A break and close above its midline at $1.2887 would confirm the continuation of the primary trend.</p>
<p><a href="https://insidebitcoins.com/wp-content/uploads/2024/03/XRPUSDT_2024-03-12_09-00-52.png" rel="noopener noreferrer nofollow"><img decoding="async" class="aligncenter wp-image-488162 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/03/XRPUSDT_2024-03-12_09-00-52.png" alt="XRP" width="1273" height="542" srcset="https://insidebitcoins.com/wp-content/uploads/2024/03/XRPUSDT_2024-03-12_09-00-52.png 1273w, https://insidebitcoins.com/wp-content/uploads/2024/03/XRPUSDT_2024-03-12_09-00-52-300x128.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/03/XRPUSDT_2024-03-12_09-00-52-1024x436.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/03/XRPUSDT_2024-03-12_09-00-52-768x327.png 768w" sizes="(max-width: 1273px) 100vw, 1273px"></a></p>
<p><a href="https://www.tradingview.com/x/auZJaw45/" target="_blank" rel="noopener noreferrer nofollow">TradingView: XRP/USDT 1-week chart</a></p>
<p>On the other hand, if the bears have their way, the XRP price could drop below the $0.6421 support, with the potential to extend lower. A break and close below the $0.4734 buyer congestion level would invalidate the bullish thesis.</p>
<p>Even as traders anticipate more gains for the XRP price, traders can’t help but notice the performance of <a href="https://insidebitcoins.com/visit/sponge" target="_blank" rel="noopener noreferrer nofollow">Sponge V2</a>, a new meme coin that’s pumped 65% in the past week.</p>
<p><iframe title="SPONGE V2 Meme Coin Launching SOON - Next 100X Crypto?!" width="640" height="360" src="https://www.youtube.com/embed/1kIF9YmV0CM?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe></p>
<h2 id="promising-alternative-to-xrp">Promising Alternative To XRP</h2>
<p>Sponge V2 ranked by analysts as <a href="https://www.linkedin.com/pulse/best-meme-coins-invest-top-picks-exponential-gains-calsona-iorle" target="_blank" rel="noopener noreferrer nofollow">a top meme coin pick for exponential gains</a>, announced the&nbsp;<a href="https://insidebitcoins.com/news/sponge-unveils-strategic-pivot-to-sponge-v2-on-polygon-network-following-liquidity-pool-attack" target="_blank" rel="noopener noreferrer nofollow">discontinuation</a>&nbsp;of its predecessor,&nbsp;<a href="https://insidebitcoins.com/visit/sponge" rel="noopener noreferrer nofollow">Sponge V1</a>, on Feb. 1. With this, the project migrated to the Polygon chain after a malicious attack on its liquidity pool.</p>
<p>The project is making a strong comeback in 2024, thanks to the exciting launch of its sequel, bringing forth a new and special staking model, a Play-to-Earn (P2E) game, and a big marketing budget.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">📣 Attention, <a href="https://twitter.com/hashtag/SPONGERS?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SPONGERS</a>!</p>
 <p>Here is some important information to remember about <a href="https://twitter.com/search?q=%24SPONGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SPONGE</a> V2!<a href="https://twitter.com/search?q=%24SPONGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SPONGE</a> V1 has officially been discontinued, and V2 has been launched on <a href="https://twitter.com/hashtag/Polygon?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Polygon</a>! 🔥</p>
 <p>Learn more about the token details below 👇<a href="https://t.co/TCdxgXx40w" rel="noopener noreferrer nofollow">https://t.co/TCdxgXx40w</a></p>
 <p>🧵1/3 <a href="https://t.co/YZzXOlKmHY" rel="noopener noreferrer nofollow">pic.twitter.com/YZzXOlKmHY</a></p>
 <p>— $SPONGE (@spongeoneth) <a href="https://twitter.com/spongeoneth/status/1754826966048657421?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 6, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Experts say&nbsp;<a href="https://insidebitcoins.com/visit/sponge" rel="noopener noreferrer nofollow">Sponge V2</a>&nbsp;is poised to repeat the success of its predecessor, $SPONGE, which recorded 100x gains after its launch last year.</p>
<p><iframe title="🔥 SPONGE V2! Can This 100X Like The 1st One Did! (MEGA URGENT!!)" width="640" height="360" src="https://www.youtube.com/embed/e4QUlXJWuag?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe></p>
<p>Token holders are enjoying annual percentage yields (APY) as high as 176% on Ethereum and 477% on Polygon. Already, upwards of 9.170 billion tokens have already been staked. That is a key reason why analysts rank it among the <a href="https://www.linkedin.com/pulse/5-new-cryptocurrency-invest-2024-promising-1000x-calsona-0krue" target="_blank" rel="noopener noreferrer nofollow">top five cryptos to invest in now</a>.</p>
<p><a href="https://insidebitcoins.com/wp-content/uploads/2024/03/Sponge-Stake-1.png" rel="noopener noreferrer nofollow"><img decoding="async" class="aligncenter wp-image-488163 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/03/Sponge-Stake-1.png" alt="Sponge " width="1345" height="349" srcset="https://insidebitcoins.com/wp-content/uploads/2024/03/Sponge-Stake-1.png 1345w, https://insidebitcoins.com/wp-content/uploads/2024/03/Sponge-Stake-1-300x78.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/03/Sponge-Stake-1-1024x266.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/03/Sponge-Stake-1-768x199.png 768w" sizes="(max-width: 1345px) 100vw, 1345px"></a></p>
<p>To increase community engagement, Sponge V2 has also introduced a new P2E racer game where players can compete against each other for a chance to win SPONGE V2 tokens as rewards. Meme coins with a great&nbsp;<a href="https://insidebitcoins.com/cryptocurrency/crypto-staking" target="_blank" rel="noopener noreferrer nofollow">staking</a>&nbsp;program are in high demand.</p>
<p>With rumors of listings on top tier exchanges coming soon, the token may see more parabolic gains in the near future. So, if you are interested, buy and stake $SPONGE today and it could set up your crypto portfolio for spectacular returns.</p>
<p>To buy SPONGE V2, visit the official website&nbsp;<a href="https://insidebitcoins.com/visit/sponge" target="_blank" rel="noopener noreferrer nofollow">here</a>.</p>
<h3 id="also-read">Also Read:</h3>
<ul>
 <li><a href="https://insidebitcoins.com/news/bonk-crypto-price-prediction-smog-spongev2-emerges-as-top-meme-coins-alongside-bonk" rel="noopener noreferrer nofollow">Bonk Crypto Price Prediction – $SMOG &amp; $SPONGEV2 Emerges As Top Meme Coins Alongside $BONK</a></li>
 <li><a href="https://insidebitcoins.com/news/is-sponge-v2-the-top-altcoin-to-invest-in-as-staking-exceeds-12-million" rel="noopener noreferrer nofollow">Is Sponge V2 The Top Altcoin To Invest In, As Staking Exceeds $12 Million?</a></li>
 <li><a href="https://insidebitcoins.com/news/cilinix-crypto-video-update-on-new-p2e-and-staking-crypto-should-you-still-buy-spongev2" rel="noopener noreferrer nofollow">Cilinix Crypto Video Update on New P2E and Staking Crypto – Should you still buy $SPONGEV2?</a></li>
 <li><a href="https://insidebitcoins.com/news/sponge-token-staking-surpasses-10-million-anticipation-builds-for-v2-release" rel="noopener noreferrer nofollow">Sponge Token Staking Surpasses $10 Million, Anticipation Builds For V2 Release</a></li>
</ul>
<div class="inContentProviderSingle inContentColor--insidebitcoins fc-row">
 <div class="inContentProviderSingle--wrapper">
  <div class="container">
   <div class="row mb-lg-3">
    <div class="col-12 col-md-8">
     <p class="inContentProviderSingle--title">New Crypto Mining Platform - Bitcoin Minetrix</p>
    </div>
    <div class="col-12 col-md-4">
     <div class="inContentProviderSingle--rating">
      <div class="rating--holder">
       <p class="rating--text">Rating</p>
       <div class="rating--star-container">
        <div class="rating--star" style="width: 100%;"></div>
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="row">
    <div class="col-12 col-md-12 text-center d-block d-sm-block d-md-none d-lg-none"><img decoding="async" class="inContentProviderSingle--img mb-3" src="https://insidebitcoins.com/wp-content/uploads/2023/09/bitcoin-minetrix.svg" alt="Bitcoin Minetrix" width="125" height="60">
    </div>
    <div class="col-12 col-md-8">
     <ul class="inContentProviderSingle--list">
      <li>Audited By Coinsult</li>
      <li>Decentralized, Secure Cloud Mining</li>
      <li>Earn Free Bitcoin Daily</li>
      <li>Native Token On Presale Now - BTCMTX</li>
      <li>Staking Rewards - Over 50% APY</li>
     </ul>
    </div> 
    <div class="col-12 col-md-4 d-none d-sm-none d-md-block d-lg-block"><img decoding="async" class="inContentProviderSingle--img float-right" src="https://insidebitcoins.com/wp-content/uploads/2023/09/bitcoin-minetrix.svg" alt="Bitcoin Minetrix" width="125" height="60">
    </div>
   </div>
   <div class="row">
    <div class="col-12 text-center">
     <div class="inContentProviderSingle--button"><a href="https://insidebitcoins.com/visit/bitcoinminetrix" title="Start Trading" rel="noopener noreferrer nofollow">Learn More</a>
     </div>
     <div class="inContentProviderSingle--disclaimerText">
     </div>
    </div>
   </div>
  </div>
 </div>
</div>

XRP Price Prediction: XRP Soars 15% On Large Binance Transfers, But Traders Turn To This New Meme Coin That Pumped 65% In A Week

Table of Contents

Inside Bitcoins

Other articles published on Mar 12, 2024

BlackRock & Fidelity Records $700 Mln Inflow, Bitcoin Price Rally

XRP Experiences Significant Price Rally, Climbing Over 11% in 24 Hours

Experts Predict How High Filecoin And Ethereum Classic Can Go As Borroe Finance Presents Similar ...

Crypto To Play a Major Role in 2024 U.S. Elections: Analyst

Elon Musk Takes AI Open Source with Grok Amid Legal Battle with OpenAI

Probability of Approval for Spot Ethereum ETFs in the US in May

Join our free newsletter for daily crypto updates!