2024

Million

Read

<ul>
 <li>XRP whales recently moved 150 million coins, triggering a price drop below $0.53.</li>
 <li>Speculation sparks regarding Ripple’s motive, with some attributing it to liquidity management.</li>
 <li>Despite the plunge, analysts anticipate potential recovery, with bullish predictions hovering around $0.8.</li>
</ul>
<p>The recent seismic shift in the cryptocurrency market has once again cast <a href="https://cryptonewsland.com/ripples-legal-victories-boost-xrp-is-a-price-explosion-imminent-are-you-buying-or-selling/" rel="noopener noreferrer nofollow">XRP into the limelight</a>. Whales, the large holders of the digital asset, orchestrated a staggering move by transferring a mammoth 150 million coins, causing ripples across the market as XRP’s price plunged below the critical $0.53 mark. This move, flagged by Whale Alert, a platform tracking on-chain transactions, has triggered a frenzy of speculation and analysis within the crypto community.</p>
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 28,270,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> (15,139,951 USD) transferred from unknown wallet to <a href="https://twitter.com/hashtag/Bitstamp?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitstamp</a><a href="https://t.co/UfoAsV7PCd" rel="noopener noreferrer nofollow">https://t.co/UfoAsV7PCd</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1783220778982416445?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 24, 2024</a>
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<p>Among the notable transactions, Ripple, the company behind XRP, executed a substantial transfer of 100 million XRP, valued at over $52.81 million, to an undisclosed wallet. Simultaneously, another wallet moved 28.27 million XRP, approximately $15.13 million, to the Bitstamp exchange, with an additional 21.92 million XRP, worth $11.74 million, finding its way to the Bitso exchange. These maneuvers have sparked debate over Ripple’s intentions, with theories ranging from strategic sales to liquidity management strategies.</p>
<p>The timing of these transactions coincides with <a href="https://cryptonewsland.com/xrp-top-analyst-predicts-1-4-price-surge-by-mid-year/" rel="noopener noreferrer nofollow">XRP’s price</a> slipping below $0.53, prompting mixed reactions from analysts. While some view this as a temporary setback, others interpret it within the context of a broader bullish trend.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> Imitating 2021 – Move:<br><br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f535.png" alt="🔵" class="wp-smiley" style="height: 1em; max-height: 1em;"> Blue Section: The current trajectory suggests a possible reach of $1.4 by June-July, a key target. The price range between ($1.2 – $1.8) is a plausible target.<br><br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f7e1.png" alt="🟡" class="wp-smiley" style="height: 1em; max-height: 1em;"> Yellow Section: Aiming for $4 is feasible if we follow a similar path to 2021.… <a href="https://t.co/BMUJSbb5GQ" rel="noopener noreferrer nofollow">pic.twitter.com/BMUJSbb5GQ</a></p>— EGRAG CRYPTO (@egragcrypto) <a href="https://twitter.com/egragcrypto/status/1783402656473457047?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 25, 2024</a>
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<p>EGRAG Crypto, a prominent market analyst, previously identified the $0.53 level as pivotal within an ascending channel, signaling bullish momentum. However, maintaining this level poses a challenge for bullish traders aiming for sustained upward movement.</p>
<p>Conversely, report suggests that breaching the $0.55 threshold could propel XRP towards $0.8, with speculations of a potential surge to $1 gaining traction. Despite recent market volatility and XRP’s decline, there remains optimism for a resurgence, supported by an overall positive trajectory over the past week.</p>
<p>At the time of reporting, XRP was trading at $0.525, reflecting a 4.81% decrease over the last 24 hours. Despite this downturn, the cryptocurrency has exhibited resilience, registering a notable 7% increase over the past week. This resilience is particularly noteworthy given the broader market sell-off and the ongoing legal challenges faced by Ripple in response to SEC allegations.</p>
<p>In conclusion, while XRP’s recent price movements may have sparked short-term uncertainty, the underlying bullish sentiment and potential for recovery remain intact. With ongoing developments and market dynamics, XRP continues to assert its relevance and resilience within the cryptocurrency industry.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/xrps-surging-value-spurs-massive-anonymous-whale-transfer/" rel="noopener noreferrer nofollow">XRP’s Surging Value Spurs Massive Anonymous Whale Transfer</a></li>
 <li><a href="https://cryptonewsland.com/ripples-60m-xrp-transfer-sparks-speculation-whats-behind-the-move/" rel="noopener noreferrer nofollow">Ripple’s 60M XRP Transfer Sparks Speculation: What’s Behind the Move?</a></li>
 <li><a href="https://cryptonewsland.com/whale-alert-massive-xrp-transfers-spark-speculation/" rel="noopener noreferrer nofollow">Whale Alert: Massive XRP Transfers Spark Speculation</a></li>
 <li><a href="https://cryptonewsland.com/xrps-half-billion-token-transfer-ripples-strategic-move-unveiled/" rel="noopener noreferrer nofollow">XRP’s Half-Billion Token Transfer: Ripple’s Strategic Move Unveiled</a></li>
 <li><a href="https://cryptonewsland.com/mystery-whale-shifts-425m-xrp/" rel="noopener noreferrer nofollow"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f40b.png" alt="🐋" class="wp-smiley" style="height: 1em; max-height: 1em;">Mega Move Alert!<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f40b.png" alt="🐋" class="wp-smiley" style="height: 1em; max-height: 1em;"> Mystery Whale Shifts 425M XRP: What’s Next?</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/how-xrp-whales-150-million-move-sparks-price-dip-below-0-53/" rel="noopener noreferrer nofollow">How XRP Whales’ $150 Million Move Sparks Price Dip Below $0.53</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

How XRP Whales’ $150 Million Move Sparks Price Dip Below $0.53

Crypto News Land

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