It appears that XRP‘s strong surge may be losing momentum as whales transfer millions of tokens to exchanges and selling pressure increases. Whale Alert reported a dump of 30.17 million XRP on Coinbase, while CryptoQuant registered an increase of 34 million XRP in exchange reserves. At the same time, XRP is struggling with technical resistance around $2.60 and a crucial support level at $2.30. In this article, we will delve deeper into the reasons behind this situation and potential implications for XRP’s price prediction.
Whales dumpen miljoenen XRP op Coinbase
In a post on platform X, Whale Alert reported that an unidentified wallet dumped a significant amount of 30,17 million Ripple tokens, worth $76,34 million, onto the exchange Coinbase.
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On X’s platform, Whale Alert announced that an unknown wallet sold off a large quantity of 30,17 million Ripple coins for $76,34 million on the exchange, Coinbase.
30,171,667 #XRP (76,341,868 USD) transferred from unknown wallet to #Coinbase
— Whale Alert (@whale_alert) January 12, 2025
In addition, the on-chain analysis firm CryptoQuant has noted that exchange reserves for XRP have increased by 34 million in the last 48 hours. This metric suggests that long-term holders may be transferring their assets to exchanges, which could indicate a possible sell-off and increasing selling pressure.
Exchange reserves. Bron: CryptoQuant
Above, it appears that these sell-offs and notable XRP transactions are taking place as the altcoin seems to be weakening technically.
In the upper echelons, there seem to be significant sell-offs and unusual XRP transactions occurring while the cryptocurrency appears to be losing technical strength.
XRP crasht richting cruciale steunniveaus
Traders had expected a significant rally following XRP’s recent breakout above a critical downtrend line, but the price has instead fallen back to $2.40, suggesting that the momentum is waning rather than increasing. Let us investigate the reasons behind this sudden delay and explore its potential implications for the market.
Although XRP managed to break the downward trend line, the rally failed to sustain a consistent momentum, indicating that there was little buying pressure following the surge – an essential factor for maintaining a rally. Currently, XRP is vulnerable to selling pressure, particularly from whales mentioned earlier, because it could not convincingly close above $2.50, which has undermined bullish confidence.
XRP koers. Bron: TradingView
On the broader crypto market, there’s a phase of risk reduction going on where traders are profiting from recent price increases. This trend is particularly evident in assets like XRP, which have already recorded substantial profits. The reduced risk appetite limits the capital inflow into XRP, further hindering the price surge.
The digital currency XRP encounters a notable resistance at around $2.60, which hinders its upward momentum. This resistance, coupled with decreasing trading volume, suggests that investors are cautious about further price increases unless there are stronger catalysts.
Keeping a close eye on the $2,30 mark is crucial, as it aligns with the 50 Exponential Moving Average (EMA). If XRP breaks this barrier, it might test lower support levels such as $1,69 or even $1,20. (As a crypto investor)
Currently, the RSI (Relative Strength Index) is hovering around 57, indicating market uncertainty. If selling pressure continues, XRP may further decrease, especially if the broader market remains cautious. However, a strong recovery from the $2.30 support level could reignite optimism and potentially spark a new breakout attempt. It seems wise to explore emerging cryptos that might perform better in such conditions.
Mogelijke alternatieven voor XRP
Despite Ripple’s strong surge in November, the coin seems to be losing momentum now as other cryptos appear more attractive. Particularly coins in the presale phase offer investors a unique opportunity to invest early at lower prices and potentially earn significantly higher returns.
Wall Street Pepe (WEPE)
As a crypto enthusiast who’s familiar with Pepe the Frog, you’d know well the immense earning potential this meme carries. The original PEPE meme coin boasts a market capitalization exceeding $7.4 billion. This very fact has made the pre-sale of Wall Street Pepe (WEPE), the savvy alternative to traditional Pepe the Frog, quite remarkable in its success.
Currently, WEPE has raised over $47 million in funds. This achievement once again underscores the allure of a meme coin like WEPE. However, what sets this presale apart is that it offers much more than just its meme-like qualities.
The creators of this cryptocurrency have established a private community that is exclusively accessible to WEPE traders. Within this community, they offer precise guidance on the optimal timing for purchasing the coin. Once you and other traders have bought the coin, they then promote it on public platforms, leading to a price increase, enabling you to quickly sell your WEPE for profit.
Naar de officiële website van Wall Street Pepe
In a landscape of cryptocurrencies heavily influenced by meme coins, it can be easy to overlook the existence of crypto projects that fulfill various functions and offer benefits to both traders and developers. Fortunately, Solaxy (SOLX) demonstrates that utility-driven tokens can represent a valuable investment opportunity.
Solaxy operates both as a network and a cryptocurrency. The Solaxy network specifically functions as a Layer 2 solution built on the Solana blockchain. As you might know, the Solana network is known for its fast transaction speeds and low costs, making it particularly suitable for meme coin development. However, it’s less effective for decentralized financial (DeFi) applications due to frequent transaction errors and insufficient liquidity.
By employing both the Solana and Ethereum blockchains, Solaxy has effectively addressed these issues, resulting in a network that is characterized by speed, cost-effectiveness, and reliability. It’s only a matter of time before a significant number of DeFi developers switch to Solaxy, which will subsequently have a positive impact on the token price.
Naar de officiële website van Solaxy
Just like Solidity, Best Wallet (BEST) represents a project that also offers utility within the market. Unlike Solidity, however, Best Wallet doesn’t focus on a specific blockchain or network; instead, it encompasses a comprehensive crypto ecosystem. This ecosystem includes a cryptocurrency wallet, a decentralized exchange, and a debit card offering 8% cashback.
The swift growth of this platform is noteworthy, given that it has surpassed 100,000 users on both Android and iOS. This development bodes well for the value of BEST, the native token of the platform. An increase in the number of users interacting with Best Wallet correlates with an increased demand for BEST.
Having the best wallet offers numerous benefits to users, making lower transaction costs possible, both on the exchange and through the debit card, while also granting access to exclusive pre-sales of the latest coins that are only available on the Best Wallet.
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2025-01-13 17:11