Price Analysis

Ripple’s XRP Price May Undergo a Huge a Major Price Action in the Coming Week

Written by: Sahana Vibhute

Written by right arrow

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

  • author facebook
  • author twitter
  • linkedin

Jul 23, 2022

news-image
Article Highlights
  • XRP price has been stagnant for a long since, being less impacted by the current market trend

  • While the price is currently struggling hard to reach $0.4 levels, a remarkable upswing may escalate the price beyond $0.5 very soon

Ripple’s XRP price ever since lost positions above $0.55 during the May crash and has severely remained drained under waters since then. The asset does not appear to have made any attempts to regain the bullish momentum and lay down a strong uptrend. However, recent data shows, that the volatility is about to peak at the earliest which may uplift the XRP price very soon. 

Data put up by a popular on-chain analysis platform enlighted the crypto space with huge XRP token movements in recent times. As per the data, a large amount of dormant XRP tokens are been shifted. Among them were several primary active wallets that moved their XRP wallet contents. 

A couple of analysts believed that as one of the top XRP whales, its co-founder, jed mccaleb finished with his selling, the asset may find some stability in its price. Soon after he sold the last share of his holdings, dormant tokens were on a move indicating huge volatility incoming. The XRP whales or long-term holders becoming active now signals an XRP price rally approaching fast. 

On the other hand, Whale Alert, a platform that tracks unusual transfers in a series of Tweets reported more than 375 million XRP tokens being moved in the past 48 hours. Among them, the single largest chunk of tokens belongs to an address with nearly 155 million tokens. Therefore, significant price action is believed to occur in the upcoming week, regardless of the direction. 

Hence, the Ripple(XRP) price may appear stagnant presently but could raise its volatility and intensity in the coming week. 

Show More

Was this writing helpful?

dislikeimage No myImage Yes

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Related Articles

Back to top button