<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/whales-move-xrp-amid-market-dip" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Move XRP Amid Market Dip</a><br></p>
<p style="text-align: justify">Bitcoin, Ethereum, Solana, and Ripple witnessed declines due to market selling pressure. Ripple’s <a href="https://en.bitcoinhaber.net/ripple-leads-the-legal-battle-against-sec" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP</a> experienced a notable drop after breaking the critical support level at $0.556, resulting in $11.2 million in long and short positions being liquidated.</p>
<h2 id="what-happened-with-xrp-s-price">What Happened with XRP’s Price?</h2>
<p style="text-align: justify">Upon losing the support level, XRP’s price plummeted to $0.43 before rebounding to $0.46. The decline coincided with Ripple releasing 1.8 billion XRP tokens into the market, increasing the circulating supply. Despite this dip, major <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> transferred 75.36 million XRP tokens, worth $40.2 million, from Binance to an unknown wallet, indicating strategic purchasing by whales.</p>
<h2 id="how-does-xrp-s-price-stand-now">How Does XRP’s Price Stand Now?</h2>
<p style="text-align: justify">Currently, XRP is trading at $0.46, marking a 14.5% drop within the last 24 hours. Concurrently, trading volume decreased by 35%, reflecting market fear. The Open Interest (OI) for XRP also fell by 7%, signaling reduced interest from investors.</p>
<p style="text-align: justify">Technical analysis shows that XRP remains in a bearish trend after failing to hold the critical support at $0.556. The price could not sustain the 200 EMA level of $0.52, leading to further negative sentiment among traders and investors. An additional 10% price drop from current levels is anticipated.</p>
<h2 id="critical-liquidation-levels">Critical Liquidation Levels</h2>
<p style="text-align: justify">The primary liquidation levels for XRP are set at $0.42 and $0.40. If XRP dips below $0.426, approximately $17.09 million in short positions will be liquidated. Conversely, if XRP rises to $0.52, $32.41 million in short positions will be liquidated.</p>
<h2 id="investor-insights">Investor Insights</h2>
<p style="text-align: justify">Key inferences for investors are as follows:</p>
<ul>
 <li>Strategic whale movements suggest potential market recovery.</li>
 <li>Critical support and resistance levels could trigger significant liquidations.</li>
 <li>Continued bearish trends might lead to further price declines.</li>
</ul>
<p style="text-align: justify">Despite recent market fluctuations, Ripple’s XRP continues to garner attention. The previous rise to $0.65 had briefly revived investor optimism, but the latest drop has shifted the focus back to whether a further 10% decline is imminent.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/whales-move-xrp-amid-market-dip" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Move XRP Amid Market Dip</a></h5>

Whales Move XRP Amid Market Dip

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