Security

<img decoding="async" width="1199" height="799" src="https://coingape.com/wp-content/uploads/2024/01/xrp_cover-e1705389221576.png" class="attachment-full size-full wp-post-image" alt="XRP Whale Moves Over 30M Coins Amid Price Slip Below $0.5, What's Next?" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/01/xrp_cover-e1705389221576.png 1199w, https://coingape.com/wp-content/uploads/2024/01/xrp_cover-e1705389221576-300x200.png 300w, https://coingape.com/wp-content/uploads/2024/01/xrp_cover-e1705389221576-768x512.png 768w, https://coingape.com/wp-content/uploads/2024/01/xrp_cover-e1705389221576-150x100.png 150w, https://coingape.com/wp-content/uploads/2024/01/xrp_cover-e1705389221576-272x182.png 272w" sizes="(max-width: 1199px) 100vw, 1199px">
Ripple’s native crypto, XRP is once again in the spotlight, grappling with intense market volatility. Notably, the token is facing challenges to maintain its position above the $0.5 price level. 
Meanwhile, amid this volatile trading scenario, a whale was spotted offloading nearly 30 million coins to a centralized crypto exchange. This transaction has triggered a wave of concerns among investors speculating over the asset’s future price trajectory. 
<h2 id="whale-dumps-30m-coins-to-bitstamp-what-s-the-scoop">Whale Dumps 30M Coins To Bitstamp: What’s The Scoop?</h2> 
According to Whale Alert’s data, 30.32 million XRP, worth $15.07 million, was offloaded to Bitstamp, a Luxembourg City-based crypto exchange, today, June 10. The renowned XRP whale, Rzn, made this transaction. 
Notably, the transfer of coins to Bitstamp increases the token’s market supply, thereby staging as a bearish factor for the asset. Aligning with this, XRP has struggled to break above the crucial support of the $0.5 despite a price jump in the past 24 hours. 
The <a href="https://coingape.com/xrp-upholds-0-52-price-level-whales-shift-218m-coins-what-next/" target="_blank" rel="noopener">whale</a>, Rzn, has been making repeated massive selloffs to Bitstamp, a phenomenon that CoinGape Media previously reported. This recurring pattern has sparked speculations about a possible link between the wallet and Ripple, particularly after Ripple’s stake acquisition in the CEX. 
Meanwhile, it is also worth noting that <a href="https://coingape.com/xrp-news-robinhood-now-has-infra-to-list-xrp-ledger-issued-tokens/" target="_blank" rel="noopener">Robinhood</a> recently acquired Bitstamp making the platform to gain tech infrastructure to list XRP and XRP Ledger-tokens. 
Also Read: <a href="https://coingape.com/okx-becomes-latest-victim-to-rising-sms-notification-security-crypto-theft/" target="_blank" rel="noopener">OKX Becomes Latest Victim Crypto Theft As SMS Notification Security Fails</a> 
<h2 id="xrp-price-jumps">XRP Price Jumps</h2> 
Whereas, while writing, the <a href="https://coingape.com/price/xrp/" target="_blank" rel="noopener">XRP price</a> noted 0.68% gains over the past day to $0.497. The token’s 24-hour lows and highs are $0.4937 and $0.5008, further underscoring the struggle to maintain a break above the $0.5 price level. 
Coinglass data hinted at bearish market trends for the asset, as futures OI dipped 0.30% and derivatives volume plunged 36.31%. This underlines reduced investor interest, followed by a substantial decline in market activity orbiting XRP. 
Besides, the RSI was somewhere around 38, painting a bearish outlook for the asset. These factors collectively validate the coin’s struggle to regain a break above the $0.5 price level, with bulls and bears fighting to take control. 
Also Read: <a href="https://coingape.com/crypto-prices-today-june-10-btc-altcoins-regain-momentum-not-om-top-gainers/" target="_blank" rel="noopener">Crypto Prices Today June 10: BTC &amp; Altcoins Regain Momentum, NOT &amp; OM Top Gainers</a> 
The post <a href="https://coingape.com/xrp-whale-moves-over-30m-coins-amid-price-slip-below-0-5-what-next/">XRP Whale Shifts Over 30M Coins As Price Dips Below $0.5, What’s Next?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

XRP Whale Shifts Over 30M Coins As Price Dips Below $0.5, What’s Next?

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