Ripples XRP has been one of the top gainers last week. Its announcement of the first ODL service in Japan catapulted its price by 19%. This pump helped XRP to break above the crucial 20 Day MA around $0.6. Although the price hit as high as $0.74 it failed to break above the 200 Day MA at $0.78.
Even though the price has struggled to surge above $0.78 it has held the support levels well preventing a further fall. On the 24 hr price chart, XRP has touched a swing low at $0.718 to a High of $0.773161. At the time of writing, it has retraced back to $0.752 but is still in a rising trend.
Moving ahead, the resistance level is at $0.781. An extended rally can take the price to the next resistance level at $0.82 and $0.89. On the downside, the support levels are at $0.71 and $0.667.
Jed McCaleb Receives 182.3M XRP tokens
Ripple Labs has removed another billion XRP from its escrow account, according to Whale Alert. In addition, the has also sent 182.3 million XRP to its co-founder and former CTO Jed McCaleb’s wallet.
This is Ripple’s routine as it releases one billion XRP stashes on a regular basis. According to recent tweets from prominent crypto tracker Whale Alert, a significant sum of cryptocurrency was unlocked roughly eight hours ago.
Ripple has released 182.3 million tokens to McCaleb’s “tacostand” wallet, as part of a regular payment under the settlement agreement between Ripple Labs and McCaleb.
This XRP stockpile was worth $138,747,891 in fiat currency.