Fear of Sell Off in Million-Moving Altcoin: What’s Happening?

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Native token of the ripstop XRPhas grabbed the headlines over the past week. With a current price of $0.5159 and a 24-hour gain of 3.67%, the altcoin has managed not only to be resilient over the past seven days, but also to be one of the key drivers of growth in the nascent crypto ecosystem.

XRP has performed well, gaining more than 50% since the beginning of the year, preventing its place from being taken over by Dogecoin (DOGE).

There is a significant move in XRP by market whales, as observed by Whale Alerts following the recent moves. According to the information received from the platform, millions of tokens have changed hands in the last 24 hours. One of those moves is 98,697,364 assets worth more than $50 million that changed hands from two unidentified wallets a few hours ago. contains.

Koinfinans.com As we have reported, the move of more than 20 million XRP tokens to the Bitstamp exchange brought about a great selling pressure or the possibility of a “sell-off”.

Is XRP Preparing for a Sell-off?

Cryptocurrency In the market, it is quite possible to sell assets after the rally, which is recorded similarly to other markets. Therefore, it would be wrong to say that it is abnormal. However, although the reason for the transfers is not known exactly, it is possible to say that there is a great possibility of selling pressure. However, critical news for the XRP price is still awaited. For this reason, sectoral developments, especially the SEC case, will be the pioneer of major price movements.

You can follow the current price action here.


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