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Onchain data show that over the past week XRP has been transferred with a value of over $ 40 billion, which puts Altcoin on the edge. In particular, these coins have been transferred to exchange, which indicates XRP is threatened huge sale.
Over $ 40 billion of XRP moved to the stock exchanges
Kryptochant data It shows that over $ 40 billion was transferred to Binance last week, and the stock exchange reserves grew during this period. This development is usually bear because it indicates that investors want to relieve their coins. It is as price XRP It increased to USD 2.6, which explains this wave of profit revenues.
In addition, the Crypto analyst Ali Martinez revealed that bitcoin whales provided profits, selling over 30,000 BTC this week. As such, XRP whales It can simply reflect this move. Meanwhile, Bitcoinist announced that XRP is reaching sales levels when net flows become negative and the wave of sales increases.
This sales pressure occurs as a result of the judgment of the judge Analis Torres in RIPPLE SECwhich is a failure for XRP. The judge refused to request the parties for an indicative decision, because the notification was improper procedures. The ruling also caused a huge sale, and XRP fell by over 4%.
Risk XRP Loss of stubborn configuration, when Martinez revealed that the key support zone is USD 2.38, which means that a decrease below this level can lead to a deeper correction. However, suspension above this level can set Altcoin to a rally to up-to-date ups, because the analyst revealed that there are no main retaining clusters in front of him. Casitrades cryptographic analyst He warned that the lack of maintenance of XRP above the resistance of 2.69 USD could send a price to USD 2.30 per reset.
Altcoin has created a dual lower formation
In the post x, Crypto Analyst Egrag Crypto He revealed that XRP has created a double bottom after a decline to USD 2.3126. He stated that Altcoin is still reflecting from the red line of decreasing trends, showing immunity. The analyst added that Altcoin is experiencing a certain micro noise in the range between Fibonacci 0.888 to 2.30 and 2.62 USD.
His accompanying table showed that the key is the price of XRP above the trend line for $ 2.3. The reflection from this level can send Altcoin up to $ 3.8, near its current All -time (ATH) USD 3.84 Based on its historical results, EGRAG Crypto still expects that the Altcoin price will raise from 27 to 33 USD in this market cycle.
According to writing, the price of XRP is around USD 2.37, which is a decrease of almost 2% in the last 24 hours, according to data with coinmarketcap.
A distinguished picture from Getty Images, chart from TradingView.com
