Rise

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/investors-sell-xrp-post-price-rise" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Sell XRP Post Price Rise</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/ripple-opposes-secs-regulatory-tactics" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP</a> experienced a 30% surge in value last week after a court ruling in favor of Ripple against the SEC. Despite this increase, the price failed to reach the expected highs, prompting significant <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a>, known as whales, to offload their XRP holdings. On-chain indicators are pointing towards a substantial correction in XRP’s price in the coming days.</p>
<h2 id="ripple-s-xrp-price-surge-limited">Ripple’s XRP Price Surge Limited</h2>
<p style="text-align: justify">On August 7, XRP’s price climbed by 30%, reaching $0.644, which was still below the $0.658 peak seen on July 30. This lower peak indicated that the demand for the altcoin was weaker than anticipated, and as a result, XRP’s price has since dipped by 9% from its $0.644 high. Currently, XRP is trading at $0.585, suggesting a potential reversal of the recent gains. Analysts predict that if XRP manages to rise at the beginning of the week, it might test the $0.613 resistance level again.</p>
<h2 id="on-chain-data-shows-bearish-trend-for-xrp">On-Chain Data Shows Bearish Trend for XRP</h2>
<p style="text-align: justify">Technical analysis highlights a bearish trend for XRP, supported by on-chain <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a>. According to Santiment’s “Supply Distribution By Balance” metric, wallet addresses holding between 1 million and 10 million XRP accumulated 230 million XRP between July 17 and August 2. Anticipating a positive court ruling for Ripple, these addresses sold off 150 million XRP by August 7, reducing their holdings to 3.8 billion. Furthermore, the Whale Transaction Count, which tracks transactions worth $100,000 or more, confirms that substantial investors sold their assets during the 30% price surge on August 7.</p>
<h2 id="what-strategy-can-investors-adopt">What Strategy Can Investors Adopt?</h2>
<p style="text-align: justify">Given the current market dynamics, investors might consider several strategies:</p>
<ul>
 <li>Monitor on-chain data for signs of further large-scale selling.</li>
 <li>Assess the resistance and support levels for potential entry and exit points.</li>
 <li>Stay updated on Bitcoin’s movement, as it could influence XRP’s price trends.</li>
</ul>
<p style="text-align: justify">These insights could help investors make informed decisions in a volatile market.</p>
<p style="text-align: justify">In conclusion, while XRP saw a significant price increase after the Ripple court victory, the inability to reach higher prices led major investors to sell off their holdings. Both technical and on-chain data suggest a bearish trend, with potential short-term corrections on the horizon. However, the extent of these corrections could be influenced by Bitcoin’s performance. Investors should stay vigilant and adopt strategic approaches based on market developments.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/investors-sell-xrp-post-price-rise" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Sell XRP Post Price Rise</a></h5>

Investors Sell XRP Post Price Rise

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