CDS Crypto News Latest XRP News Update: How Will The Whale’s 27 Million Token Dump Affect The Price?
Crypto News

Latest XRP News Update: How Will The Whale’s 27 Million Token Dump Affect The Price?

As the price of the Ripple-backed cryptocurrency drops to below $0.53, there may be a significant selloff, according to the latest XRP news update.

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Latest XRP News Update: How Will The Whale's 27 Million Token Dump Affect The Price?

Crypto News – Following recent high volatility in the cryptocurrency market, XRP has once again dropped below the $0.53 threshold. A significant whale dump has been noted for XRP amid the bearish shift.

Latest XRP News Update: How Will The Whale’s 27 Million Token Dump Affect The Price?

A sizable sell-off of Ripple’s XRP has reportedly been detected, per data from blockchain tracking platform Whale Alert. A whale just dumped over 27 million XRP tokens in one of the transactions, which coincided with the recent decline in price.

To Bitstamp, a cryptocurrency trading site situated in Luxembourg, the trader sent $27.7 million worth of XRP tokens. $14.48 million was exchanged in this trade. Furthermore, it’s critical to remember that Bitstamp has been the primary method used recently for XRP whale unloading.

A Falling Wedge Breakout Expected to Happen

Conversely, XRP Captain—a proponent of XRP—offered a forecast for the future performance of the XRP that is backed by Ripple. According to XRP Captain, the price of XRP is expected to drop below $0.50 soon. This indicates a departure from the current price trend of more than 5%.

Nevertheless, they pointed out that, following the significant decline, XRP is about to record a falling wedge breakout. This means that, even with the current price collapse, a positive rally is on the horizon. A 21% gain from the recent price range of roughly $0.52 is suggested by the chart that is attached to the report, which shows an XRP price explosion beyond $0.64.

Latest XRP News Update: How Will The Whale's 27 Million Token Dump Affect The Price?
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Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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