CandleFocus XRP Whales Shift 23.5 Million Tokens to Exchanges, Price Crash Imminent?
2024-09-26
Author: Content Editor
Whales holding XRP have transferred 23.5 million tokens worth $13.63 million to centralized exchanges, suggesting a potential sell-off and indicating a bearish sentiment. During this time, the exchanges' reserve of XRP has been continuously rising, which is seen as a negative sign. XRP's price has declined over 1% in the past 24 hours, but it is still in an uptrend as it trades above the 200 Exponential Moving Average (EMA). Currently, XRP is in a consolidation zone, and a breakout above $0.60 could lead to a 20% increase, while a breakdown below $0.545 could result in a 14% price crash. Traders are currently waiting for a consolidation breakout.
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