Where XRP Price Is Headed As Whales Dump 190M Coins
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Key Insights
- XRP price has slipped to as low as $1.99 in the last 24 hours.
- The dip comes as Ripple whales have aggressively dumped their holdings recently.
- The XRP ETF optimism might help in a strong recovery for the asset.
XRP price has continued to struggle in the negative territory today, as the broader crypto market stayed near the flatline.
In latest XRP news, the Ripple whales have caught the eyes of traders with their recent activity. Notably, whales are still panicking despite the soaring institutional interest.
Notably,
Only Bitcoin and Solana, among the top ten cryptocurrencies by market cap, stayed on the positive side.
Meanwhile, it seems that the continuing inflow into the Solana ETF has helped the recovery in the asset.
Having said that, many are anticipating a similar bounce back for Ripple coin price, given the rising interest of institutions like Grayscale, Bitwise, and others.
However, despite the optimism, the continuing dip in XRP price has weighed on the traders’ sentiment.
With the asset’s value hovering near the $2 mark, the experts have highlighted the key price levels to watch for potential future directions.
XRP Price Struggles as Ripple Whales Offload Holding
XRP price has lost nearly 1% today and exchanged hands at $1.99, with its trading volume soaring 34% to $6.13 billion. Notably, the crypto has a 24-hour high and low of $2.15 and $2.03, respectively.
As the crypto hovered near the $2 mark, it has fueled discussions among traders over the potential future movements of the coin.
While some anticipate a potential rebound in the asset’s price, others are betting on the gloomy momentum to continue.
On the other hand, the derivatives data also suggests a potential dip ahead for the Ripple coin price.
For context, CoinGlass data showed that the XRP Futures Open Interest fell nearly 4% to $4 billion from yesterday, indicating a waning risk-bet appetite of traders.
Meanwhile, the recent retreat in price could also be attributed to the whale-selling trend.
For context, the Ripple whales have offloaded their holdings, which many deemed as a potential move to book profits, while others suggest a waning interest of traders.
In a recent X post, analyst Ali Martinez has highlighted the selling pressure in the market.
According to Martinez, the XRP whales have offloaded 190 million coins in the past two days, which might have weighed on the traders’ sentiment and triggered the selling pressure in the market.
What’s Next for Ripple Coin?
Despite the ongoing dip in XRP price, some are still anticipating a recovery in the crypto’s price.
Leading players like Bitwise and Grayscale are gearing up to launch the Ripple ETF, especially as Canary Capital witnessed a successful debut recently.
The soaring institutional bets might help in a strong rally for the asset in the near future.
However, in more XRP news, analyst CRYPTOWZRD noted that XRP price must break through the $2.75 resistance to soar past the $3 mark ahead.
On the other hand, the expert said that if it fails to hold the $2 support, it might witness a further pullback to $1.5 or even $1. Considering that, the market participants are keeping a close track of the $2 support.
The post Where XRP Price Is Headed As Whales Dump 190M Coins appeared first on The Coin Republic.
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Where XRP Price Is Headed As Whales Dump 190M Coins
Share:
Key Insights
- XRP price has slipped to as low as $1.99 in the last 24 hours.
- The dip comes as Ripple whales have aggressively dumped their holdings recently.
- The XRP ETF optimism might help in a strong recovery for the asset.
XRP price has continued to struggle in the negative territory today, as the broader crypto market stayed near the flatline.
In latest XRP news, the Ripple whales have caught the eyes of traders with their recent activity. Notably, whales are still panicking despite the soaring institutional interest.
Notably,
Only Bitcoin and Solana, among the top ten cryptocurrencies by market cap, stayed on the positive side.
Meanwhile, it seems that the continuing inflow into the Solana ETF has helped the recovery in the asset.
Having said that, many are anticipating a similar bounce back for Ripple coin price, given the rising interest of institutions like Grayscale, Bitwise, and others.
However, despite the optimism, the continuing dip in XRP price has weighed on the traders’ sentiment.
With the asset’s value hovering near the $2 mark, the experts have highlighted the key price levels to watch for potential future directions.
XRP Price Struggles as Ripple Whales Offload Holding
XRP price has lost nearly 1% today and exchanged hands at $1.99, with its trading volume soaring 34% to $6.13 billion. Notably, the crypto has a 24-hour high and low of $2.15 and $2.03, respectively.
As the crypto hovered near the $2 mark, it has fueled discussions among traders over the potential future movements of the coin.
While some anticipate a potential rebound in the asset’s price, others are betting on the gloomy momentum to continue.
On the other hand, the derivatives data also suggests a potential dip ahead for the Ripple coin price.
For context, CoinGlass data showed that the XRP Futures Open Interest fell nearly 4% to $4 billion from yesterday, indicating a waning risk-bet appetite of traders.
Meanwhile, the recent retreat in price could also be attributed to the whale-selling trend.
For context, the Ripple whales have offloaded their holdings, which many deemed as a potential move to book profits, while others suggest a waning interest of traders.
In a recent X post, analyst Ali Martinez has highlighted the selling pressure in the market.
According to Martinez, the XRP whales have offloaded 190 million coins in the past two days, which might have weighed on the traders’ sentiment and triggered the selling pressure in the market.
What’s Next for Ripple Coin?
Despite the ongoing dip in XRP price, some are still anticipating a recovery in the crypto’s price.
Leading players like Bitwise and Grayscale are gearing up to launch the Ripple ETF, especially as Canary Capital witnessed a successful debut recently.
The soaring institutional bets might help in a strong rally for the asset in the near future.
However, in more XRP news, analyst CRYPTOWZRD noted that XRP price must break through the $2.75 resistance to soar past the $3 mark ahead.
On the other hand, the expert said that if it fails to hold the $2 support, it might witness a further pullback to $1.5 or even $1. Considering that, the market participants are keeping a close track of the $2 support.
The post Where XRP Price Is Headed As Whales Dump 190M Coins appeared first on The Coin Republic.
Read More
Breaking: 21Shares Discloses Fee and Other Details for its XRP ETF