Major Price Action For XRP Seen Heading To $0.5 In The Next Few Days

July 25, 2022


Major Price Action For XRP Seen Heading To $0.5 In The Next Few Days. Even if XRP tries to set a foot in the region of $0.4, the price of XRP is high for a long time, and the bullish trend may exceed $0.5 in the coming days. During the crypto crash in May, XRP lost control at $0.55 and has been at a key support line ever since. Afterward, the token remained unchanged and showed no positive movement to prevent further progress. The latest data shows signs of a major breach that will increase the price of the token in the coming days. A large number of stagnant XRP tokens have been removed and many early active wallets are removing most of their XRP. Many analysts, including Ripple founder Jed McCaleb, are optimistic that the cryptocurrency will soon find the stability it deserves. Shortly after McCaleb sold all of his XRP holdings, several inactive tokens were moved, indicating that more volatility is imminent. Also, many breeders and whalers have been activated with the token recently, which means the price will start to rise.

Whale Alert, a popular Twitter exchange monitoring site, reported that around 375 million XRP tokens were sold in the last 48 hours. Most tokens come from an address with more than 155 million tokens. In this regard, large-scale price action is inevitable. Additionally, on the same day, the number of Change Address tokens remaining stagnant also increased as consumption rose to 854.32 billion. This is XRP’s highest since December 2020. July 12 marked XRP’s all-time high. But on July 20, it formed a bullish wedge, where the token experienced a sharp drop in price. On July 20, it was trading at $0.37. Cryptocurrency currently has a bleak outlook, but investor interest is now stronger than ever. At the time of writing, the RSI of the token rose to around 55.66. As buying pressure or demand continues to grow, the MFI XRP or Money Flow Index will increase over the next 24 hours.

Read more: Equitiesfirst Named as Mysterious Debtor to Celsius, Owing $439 Million to Crypto Lender, According to the Report

Exclusively hand curated news, written precisely in short by our editors for a 60 seconds read! We understand that reading multiple news from various resources could be monotonous, time consuming and less interesting. At Dcryptonews, you will experience a new style of reading news with smart keyword, ease of language that is easy to read for a quick news grasp.