CandleFocus Ripple Whale Dumps 40 million XRP, Price Crash Imminent?
2024-09-11
Author: Content Editor
Whales holding Ripple's XRP token have sold off 39.32 million XRP, worth $21.13 million, to Bitstamp. This has caused concerns of a price decline for XRP, with predictions of a potential 10% plunge to the $0.475 level if it fails to hold the $0.531 level. Furthermore, the Relative Strength Index (RSI) for XRP is in oversold territory, suggesting a potential price reversal. Coinglass data also shows that the majority of top XRP traders have taken short positions, indicating bearish sentiment and the potential for increased selling pressure.
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