- Over the past few days XRP whales has accumulated more than 111 Million XRP tokens worth more than $42.6 Million
- Technical indicators are favoring the downside trend. XRP/BTC pair has seen a drop of over 0.58% in the past 24 hours.
The court battle between XRP and SEC is on a full rage.Since the lawsuit different dimensions of the case has been coming out. The case between the XRP and SEC is coming to a summary judgment. Even as the case is going on whales have not lost interest in the XRP.Over the past few days whales have accumulated over 111 million tokens which is worth more than $42 million. A whale has moved over $15 million of XRP in a single transaction from Bitso exchange. Meanwhile Cardano founder Charles Hoskinson has said that he will no longer speak on Ripple and its token citing vicious attacks from community.
XRP is currently ranked 7th in the crypto verse and has a market cap of over $17 Billion. Volume of the XRP has seen a decline of over 61% in the past 24 hours. Volume to market cap ratio of XRP crypto suggests a downside move.
Are Whales Of XRP With Or Against Bulls?
The weekly technical chart of XRP suggests a consolidated trend in price. It is currently seeing a strong decline on the chart. On coming to the daily chart the asset price has seen a decline of 1.2% and is trading near the value of $0.35. The upside trend of XRP can see a halt near the value of $0.5. The downside trend can see a bounceback from $0.3. It is trading below the 50 and 100 Daily Moving Average. There can be a negative crossover which can push the price to a new low.
Conclusion
Ripple vs SEC has been going on for a long time and is coming to an end. XRP price is currently in a downside trend and can move to a new high in the future.
Technical Levels
Major Resistance:$0.45
Major Support:$0.3
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/12/18/xrp-price-prediction-is-christmas-coming-early-for-xrp/