XRP (XRP) Dips Below $0.5 Amidst Massive 30M Coin Offload by Whale: Future Predictions

  • XRP’s price plunged below $0.5 today, causing a stir in the crypto community. A renowned XRP whale’s considerable token dump appears to have fueled the price dip.
  • Blockchain data shows that amid the token’s tumbled price movement in the past 24 hours, a renowned XRP whale offloaded slightly above 30 million tokens to an exchange.
  • According to the data revealed by Whale Alert, 30.23 million XRP was moved to Bitstamp by a renowned XRP whale, ..Hh4Rzn. Notably, this whale has been much assumed to be a potential Ripple-linked address.

XRP’s price dip below $0.5 and the role of a renowned XRP whale’s token dump in this price movement. The article provides insights into the current market scenario and future outlook of XRP.

XRP Price Slips Below $0.5

The Ripple Labs-backed cryptocurrency, XRP, has ignited a torrent of bearish market sentiments today, May 13, slipping below the highly psychologically important level of $0.5. Illustrating signs of a pullback in the past seven days, the token has continued a waning price trajectory, with a whale’s massive dump further increasing downside pressure for the token.

XRP Whale Activity Sparks Investor Concerns

Blockchain data illustrates that amid the token’s tumbled price movement in the past 24 hours, a renowned XRP whale offloaded slightly above 30 million tokens to an exchange. The Ripple Labs-backed token has, in turn, dipped below $0.5 following the massive dump.

XRP Price Tumbles

As of writing, XRP’s price has tanked 2.94% in the past 24 hours and is currently trading at $0.4929. The token’s market cap slipped 2.88% to $27.29 billion, while the 24-hour trading volume jumped by 42.09% to $586.47 million.

Conclusion

The recent dip in XRP’s price below the $0.5 mark has sparked concerns among investors. The role of a renowned XRP whale’s token dump in this price movement has been highlighted. As the market scenario remains uncertain, investors are advised to do their market research before investing in cryptocurrencies.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

spot_imgspot_imgspot_imgspot_img

PRO Analysis

Bitcoin (BTC) Price Drops After Failing to Surpass $69K Resistance Level: Market Analysis

Bitcoin dips 0.02%, failing to breach $69,336...

Bitcoin (BTC) Price Analysis: Bullish Surge Propels BTC Towards $70K Resistance

Bitcoin (BTC) continues its upward trajectory, trading...

GBPJPY Technical Analysis Report: Key Insights for May 27, 2024

The cryptocurrency market continues to evolve rapidly,...

Shiba Inu (SHIB) Rally Hits a Roadblock: Key Insights and Market Analysis

Shiba Inu (SHIB) price action has gained...
Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
spot_imgspot_imgspot_imgspot_img

Ethereum Classic (ETC) Skyrockets; Experts Advocate BlockDAG Home Mining Rigs for 30,000x ROI as Aptos (APT) Price Forecast Soars

Ethereum Classic (ETC) has recently seen a significant surge in its market value. Analysts are now recommending...

XRP (XRP) Faces $0.54 Max Pain Price Ahead of May Options Expiry: What Investors Need to Know

XRP options monthly expiry has a max pain price of $0.54 for May as investors await the final decision in the Ripple...

NY Attorney General’s Stern Warning to Crypto Firms: Compliance Crucial for Bitcoin (BTC) and Ethereum (ETH)

<ul> <li>As the US government seemingly starts to loosen its grip on the crypto industry, New York Attorney General Letitia James has issued...