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Ripple's native token XRP, is posed for a price decline as whales dump millions of XRP tokens while the price retests the breakdown level of $0.545. On September 12, 2024, the transaction tracker Whale Alert made a post on X (Previously Twitter) that Ripple whales have offloaded 39.32 million XRP tokens, worth $21.
Ripple (XRP) price tumbled 4% on Sept 11 to hit $0.54, as markets react to the latest (CPI) inflation data published by US authorities on Wednesday.
Jake Claver, a business leader and performance expert, recently noted that Ripple is not actually reliant on individual blockchain adoption.
XRP struggles to break past $0.55 resistance as liquidation imbalances and market dynamics point to key price levels that traders need to watch. What to expect from the XRP price now?
Bitcoin recovered sharply from its intraday low, but holding these gains will determine whether bulls and dip buyers are ready to fight for a stronger trend reversal.
Crypto analysts have XRP under the lens, as the altcoin has been consolidating for over 500 days. Well-known XRP figure Edward Farina recently predicted that the coin will be on a “perpetual cycle.
Despite crypto being blamed for illicit activities, critics argue that traditional banks launder far more money annually.
XRP's muted reaction over the past few weeks has presented a buying opportunity. On-chain data shows that the altcoin is undervalued, and some investors may want to “buy the dip.
The price of XRP has fallen by 1% today, with its slip to $0.5328 coming as the crypto market as a whole loses 1.5% in the past 24 hours.
In the past 24 hours, XRP has seen a big difference in the number of liquidations between those who are long and those who are short on the token on the perpetual futures market. Data from CoinGlass shows that the total liquidation of XRP derivatives during this period was over $780,000.
TL;DR XRPL Update: In two weeks, the XRP Ledger (XRPL) will implement a major update to improve its Automated Market Maker (AMM) feature, approved with a consensus of 82.86%.
In a recent post unrelated to XRP or blockchain technology, Ripple's Chief Technology Officer David Schwartz took to X (formerly Twitter) to express his gratitude toward Elon Musk.
XRP's struggle to break through the $0.55 barrier has sparked concerns about its ability to maintain its upward trajectory.
XRP price has displayed wobbly performance late after encountering local resistance, which caused a notable retracement. The markets are generally optimistic but cautious as the Bitcoin Fear and Greed Index rose from 33 to 37 in the last 24 hours.
Ripple's top lawyer, Stuart Alderoty, fiercely challenges U.S. regulators, accusing them of unfairly targeting cryptocurrency over traditional banks.
At the $0.55 price level, XRP encountered strong resistance, which caused a noticeable retreat. The severe rejection that followed this level, which had previously served as a critical barrier, forced XRP to move closer to the bottom edge of an ascending trendline.
Ripple has renewed its partnership with NYU Abu Dhabi to support blockchain research and innovation. This partnership aims to foster talent development, advance digital asset adoption, and integrate blockchain technology into startups and established institutions in the UAE.
"Are we in for a massive pump and multiple X's? My answer is a resounding: Yes," one popular analyst said.
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XRP has had a challenging year, lagging behind other major cryptocurrencies. Recently, it's down over 15% since the start of the week, while many top assets have seen gains of around 20%. Despite these setbacks, crypto advocates are highlighting XRP as a must-buy asset.
The upgrade was approved with a 82.86% consensus.
XRP price extended gains and tested the $0.5420 level. The price is now correcting gains and testing the $0.5320 support zone.
XRP is showing signs of a significant move, as highlighted by crypto analyst MichaelXBT. Recent charts reveal a potential major squeeze for XRP against Bitcoin, suggesting that the altcoin might soon experience a period of high volatility.
Rajat Soni, known for his strong support of Bitcoin and criticism of other cryptocurrencies, has once again targeted XRP. His latest remarks are grounded in concerns about the potential role of XRP in facilitating Central Bank Digital Currencies (CBDCs).
