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Whale Transfers and Technical Indicators: What’s Next for XRP?

Published 06/07/2024, 08:45 PM
Updated 06/07/2024, 09:15 PM
© Reuters.  Whale Transfers and Technical Indicators: What’s Next for XRP?
XRP/USD
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  • Whale activity in XRP market signals potential volatility with significant transfers to major exchanges.
  • XRP consolidates between $0.520 support and $0.528 resistance, indicating short-term price stability.
  • RSI at 49.85 and MACD above signal line hint at possible upward momentum for XRP amidst market fluctuations.

Recent large-scale XRP transfers have captured the market’s attention.

Whale Alert reported a 29.85 million XRP transfer (worth $15.52 million) from an unknown wallet to Bitso, followed by a 28.89 million XRP transfer ($15.03 million) from another unknown wallet to Bitstamp.

Notably, Ripple transferred 150 million XRP ($78.21 million) to an undisclosed wallet. These substantial movements have heightened scrutiny of XRP’s current market position and price trends.

XRP is currently trading at $0.5245, up slightly by 0.08% over the past 24 hours. Its marke…

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