{"id":44764,"date":"2023-08-05T05:49:47","date_gmt":"2023-08-05T09:49:47","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/xrp-price-prediction-as-1-billion-trading-volume-sends-xrp-down-10-are-whales-selling\/"},"modified":"2023-08-05T05:49:49","modified_gmt":"2023-08-05T09:49:49","slug":"xrp-price-prediction-as-1-billion-trading-volume-sends-xrp-down-10-are-whales-selling","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=44764","title":{"rendered":"XRP Price Prediction as $1 Billion Trading Volume Sends XRP Down 10% \u2013\u00a0Are Whales Selling?"},"content":{"rendered":"
\n

XRP’s price has declined by nearly 5% in the last 24 hours, reaching $0.62380. This downturn continues a four-day bearish streak, and the cryptocurrency has reached its lowest point since July 13.\u00a0<\/p>\n

That date also marks the same day Ripple achieved a partial victory against the SEC lawsuit.\u00a0<\/p>\n

This recent activity has triggered intense speculation among market watchers, and a trading volume of $1 billion has sent XRP down by 10%.\u00a0<\/p>\n

Are whales behind this sudden sell-off? The unfolding situation merits a closer look.<\/p>\n

XRP Experiences Selling Pressure Amidst Price Decline<\/strong><\/h2>\n

Recent data from Santiment<\/u> reveals that XRP has encountered a hurdle due to the sale of 100 million XRP by large holders.\u00a0<\/p>\n

This sale occurred after the cryptocurrency experienced a 25% decline in price over a two-week period.\u00a0<\/p>\n

The major holders, who possess between 100,000 to 1 million XRP, took advantage of the opportunity to profit from the situation after XRP reached its peak of $0.85 in July 2023.\u00a0<\/p>\n

This change from holding to selling has put pressure on the XRP price rally that was originally triggered by a favorable outcome in the SEC lawsuit.<\/p>\n

Global Leaders Embrace Cryptocurrencies, Boosting Optimism for Ripple<\/strong><\/h2>\n

According to a recent report by Ripple, more than 70% of financial leaders worldwide have a favorable outlook on cryptocurrencies, indicating a rise in optimism.\u00a0<\/p>\n

As Ripple is a significant provider of crypto services for financial institutions, it is likely to continue expanding.\u00a0<\/p>\n

The increase in confidence is due to various factors, including tokenization, which has the potential to transform industries such as stock trading, events, games, and metaverses.\u00a0<\/p>\n

Blockchain is another significant innovation that enables leaders to innovate, leading to improved operational efficiency, data management, and financial agility.<\/p>\n

Ripple has a wide range of services, with more than 300 institutional clients and an on-demand liquidity platform that uses XRP.\u00a0<\/p>\n

This allows Ripple to take advantage of various areas such as micropayments, cross-border transactions, and easy digital payments.\u00a0<\/p>\n

However, even with this positive outlook, XRP has faced pressure due to significant profit-taking in the market.<\/p>\n

Ripple Gains Clarity and Plans US Comeback After Legal Victory<\/strong><\/h2>\n

Ripple has achieved a legal victory against the SEC, which provides clarity for its future operations, confirming that XRP is not a security.\u00a0<\/p>\n

Monica Long, the President of Ripple, has expressed satisfaction with the ruling, leading the company to re-engage with the US market.\u00a0<\/p>\n

While other countries such as the UK, Europe, Singapore, and Dubai have provided regulatory clarity, Ripple is now focusing on navigating its resurgence in the US.\u00a0<\/p>\n

As a result of this development, the price of XRP has increased.<\/p>\n

The XRP price in the US has been impacted by the SEC case but there have been a recent increase in its potential for an upward shift.\u00a0<\/p>\n

This is due to Ripple’s renewed focus on partnerships and expansion. Ripple’s successful legal outcome and strategic plans to leverage regulatory clarity have contributed to this bullish development.<\/p>\n

XRP Price Prediction<\/strong><\/h2>\n

Examining the technical aspects of Ripple, the price is currently hovering around the 0.6239 level after breaking below its major support level at 0.6590.<\/p>\n

\u00a0This particular support level was sustained by the 61.8% Fibonacci retracement level, and any significant move below this level could lead to continued selling.\u00a0<\/p>\n

This may drive Ripple’s price towards the next major support area of 0.5750, extended by the 78.6% Fibonacci adjustment level.\u00a0<\/p>\n

The continuation of a downward trend might also extend the bearish movement under the 0.5000 level.\u00a0<\/p>\n

Analyzing leading technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), both are indicating a sell zone, with potential triggers for support around the 0.6230 level.<\/p>\n

On the upside, substantial resistance is likely to be encountered at the 0.6590 level, which is also aligned with the 50-day exponential moving average.\u00a0<\/p>\n

This is the same level that previously acted as support and was maintained by the 61.8% Fibonacci retracement level.\u00a0<\/p>\n

However, now it may act as resistance, and a bullish cross above this level could open room for buying up to the 0.7153 level or even a higher degree at the 0.7700 level.<\/p>\n

\u00a0For today’s trading strategy, keeping an eye on the 0.6590 level is key; falling below this level could mean Ripple has strong chances of continued selling.<\/p>\n

New Cryptocurrency Alert: Veternative Coin XRP20<\/strong><\/h2>\n

XRP20 ($XRP20) is an innovative proof of stake (PoS) token on the Ethereum blockchain, inspired by the philosophy and tokenomics of Ripple (XRP), yet specifically tailored for retail investors.<\/p>\n

While the project draws certain elements from Ripple, it’s essential to recognize that XRP20 is an entirely independent and unique initiative, without any direct connection to the widely-known large-cap coin.<\/p>\n

\u00a0<\/p>\n

The XRP20 presale is now open and will continue until the soft cap is reached. Currently, over $660,000 has been raised towards the goal of $1,850,000.\u00a0<\/p>\n

This is an exclusive opportunity to participate in the growth of XRP20, with each token priced at just $0.000092. Act now to become a part of this exciting venture, and seize the opportunity before the soft cap is met!”<\/p>\n

Buy XRP20 Here<\/strong><\/p>\n

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.<\/sup><\/i><\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

XRP’s price has declined by nearly 5% in the last 24 hours, reaching $0.62380. This downturn continues a four-day bearish streak, and the cryptocurrency has reached its lowest point since July 13.\u00a0 That date also marks the same day Ripple achieved a partial victory against the SEC lawsuit.\u00a0 This recent activity has triggered intense speculation […]<\/p>\n","protected":false},"author":1,"featured_media":44765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-44764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nXRP Price Prediction as $1 Billion Trading Volume Sends XRP Down 10% \u2013\u00a0Are Whales Selling? | iFintechWorld<\/title>\n<meta name=\"description\" content=\"XRP's price has declined by nearly 5% in the last 24 hours, reaching $0.62380. This downturn continues a four-day bearish streak, and the cryptocurrency\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=44764\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XRP Price Prediction as $1 Billion Trading Volume Sends XRP Down 10% \u2013\u00a0Are Whales Selling? | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"XRP's price has declined by nearly 5% in the last 24 hours, reaching $0.62380. 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