- A prominent XRP whale transferred 30 million tokens to an exchange.
- The digital asset lost crucial support at the $0.5 price level.
- The RSI indicator shows that the selling pressure is quite high in the market.
A prominent XRP whale transferred a whopping 30 million tokens to an exchange as bearish winds engulfed the digital asset market in the past 24 hours and the cryptocurrency lost crucial support at $0.5.
According to blockchain data, the whale moved the tokens to the exchange, possibly cashing out, which resulted in the token facing increased selling pressure and following a downward trajectory.
The data from CoinMarketCap shows that the trading volume of the seventh largest digital asset surged by a whopping 52.33% in the past 24 hours, while the market capitalization of XRP stands at $27.2 billion. Further, as of 1:32 a.m. ET Monday, the price of the token stands at $0.4925, down 3%.
Pro-XRP lawyer Bill Morgan also took to social media platform X to highlight that XRP had lost the $0.5 price level and is currently trading at $0.4.
Moreover, as per the chart provided by TradingView, the Relative Strength Index (RSI) for XRP/USDT on a da…
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