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<p>The post <a href="https://coinpedia.org/news/red-flag-108-million-xrp-tokens-move-to-bitstamp-is-dump-incoming/" rel="noopener noreferrer nofollow">Red Flag! 108 Million XRP Tokens Move to Bitstamp, Is Dump Incoming?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Amid the ongoing downturn, an XRP whale wallet address “r4wf7” has consistently moved over 27 million tokens worth approximately $16 million to the Bitstamp over the last four days. According to a blockchain transaction tracker Whale Alert, the same whale has transferred a significant 26.7 million <a href="https://coinpedia.org/price-analysis/xrp-whale-moves-54-million-tokens-to-bitstamp-selloff-incoming/" rel="noopener noreferrer nofollow">XRP tokens</a> worth $15.3 million to Bitstamp today.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 26,720,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> (15,284,233 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/HeaGWfKUiI" rel="noopener noreferrer nofollow">https://t.co/HeaGWfKUiI</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1823809024971727001?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 14, 2024</a>
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  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<h2 class="wp-block-heading" id="h-108-million-xrp-tokens-to-bitstamp"><strong>108 Million XRP Tokens to Bitstamp</strong></h2>
<p>With the transfer of these recent tokens, this whale has moved over 108 million XRP, worth $64 million to Bitstamp in four consecutive trading days. Such a notable transfer at the same time every day are raising concerns among the investors and may impact the XRP price.</p>
<p>Since the whale started moving these tokens, the XRP price has continued to fall. Over the last four days, it has experienced a price decline of more than 9%, according to data from Trading View.</p>
<h3 class="wp-block-heading" id="h-xrp-price-analysis"><strong>XRP Price Analysis</strong></h3>
<p>At press time, XRP is trading near the $0.57 level and has experienced a price drop of over 5% in the last 24 hours. Meanwhile, XRP’s trading volume has also decreased by 6.5% over the same period. This reduced trading volume indicates lower participation from traders and investors.&nbsp;</p>
<p>On the other hand, if we look at the performance over a longer period, it has experienced a price surge of over 14% in the last 7 days.</p>
<h2 class="wp-block-heading" id="h-xrp-price-prediction"><strong>XRP Price Prediction</strong></h2>
<p>According to expert technical analysis, XRP looks bearish and there is a high possibility that it could fall 15% in the coming days. The potential reason behind this expected price drop is the ongoing resistance from the descending trendline.</p>
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/08/15030113/XRPUSDT_2024-08-15_03-00-54.png" rel="noopener noreferrer nofollow"><img decoding="async" width="1024" height="448" src="https://image.coinpedia.org/wp-content/uploads/2024/08/15030113/XRPUSDT_2024-08-15_03-00-54-1024x448.png" alt="" class="wp-image-338844" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/15030113/XRPUSDT_2024-08-15_03-00-54-1024x448.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/15030113/XRPUSDT_2024-08-15_03-00-54-300x131.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/15030113/XRPUSDT_2024-08-15_03-00-54-768x336.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/15030113/XRPUSDT_2024-08-15_03-00-54-1536x672.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/15030113/XRPUSDT_2024-08-15_03-00-54-150x66.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/08/15030113/XRPUSDT_2024-08-15_03-00-54.png 1824w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
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  Source: Trading View
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<p>Based on the historical price momentum, whenever XRP comes to this trendline it has always experienced a notable price drop. This time we may see the same pattern repeat. As of now, XRP’s open interest has dropped by 4.5% in the last 24 hours, indicating reduced interest from investors and traders.</p>

Red Flag! 108 Million XRP Tokens Move to Bitstamp, Is Dump Incoming?

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