As Ripple Transfers 3 Billion XRP Tokens and This P2E ICO Explodes, XRP Price Prediction – Will the Next Cryptocurrency Explode?

adminJune 3, 2024

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XRP price manage It has made modest gains over the past 24 hours as investors have slowly begun accumulating remittance tokens, trading at $0.5197 as of 6:15 a.m. ET.

Minor gains are printed as follows: ripple The price over the past trading day comes amid 3 billion XRP tokens moving through a series of transfers, according to on-chain tracking platform Whale Alert.

XRP Whale Trading: Starts 1 hour ago (5.4% $XRP circulating supply is shifted):
– 200,000 at 2:30 PM $XRP
– 300,000 at 2:34 p.m. $XRP
– 500,000 at 2:38 p.m. $XRP
– 500,000 at 2:41 p.m. $XRP
– 300,000 at 2:45 p.m. $XRP
– 200,000 at 2:47 p.m. $XRP
– 500,000 at 2:55 p.m. $XRP
– 500,000 at 2:58 p.m. $XRP
gun $XRP So far: 3b… pic.twitter.com/u5PPTPQmJw
— MartyParty (@martypartymusic) June 1, 2024

The move initially raised concerns within the cryptocurrency community, but Marty Party stated that XRP was transferred between Ripple-affiliated wallets. Some in the community said the move was a standard consolidation of funds associated with escrow activities.

XRP price trying to break out of negative channel

XRP chart image

XRP/USD 4-hour chart (Source: gecko terminal)

that much XRP The price is attempting to break out of the medium-term negative channel that has formed on the chart. With the upper limit of this channel joining the major resistance at $0.5240, XRP will need to close a 4-hour candle above this threshold before traders can consider entering a long position on the cryptocurrency.

A sustained position above $0.5420 could provide the technical foundation needed for XRP price to continue rising in the near term. Bulls could push the value of the altcoin above the $0.5359 barrier and up to $0.5462.

On the other hand, if the $0.5240 resistance is rejected, this bullish argument may be invalidated. In this alternative scenario, XRP could fall to the immediate support level of $0.5092. A fall below this technical support could expose XRP to the risk of continuing its downward trend.

Technical experts suggest that the price of XRP may continue to rise.

Technical indicators on the 4-hours chart of XRP suggest that the price of XRP may challenge the $0.5240 resistance. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing bullish signals.

XRP price has been in a positive cycle for the past 12 hours. This is evident from the MACD line breaking above the MACD signal line during this period.

Buyers appear to be stronger than sellers, as evidenced by RSI values above 50. Moreover, both the RSI and MACD lines have positive slopes. Traders can identify this as a sign of increasing bullish momentum and growing buyer power.

Investors are rushing to buy new ICOs as XRP price attempts to break out of the descending channel shown on the charts. playdoji (play).

explosive start

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playdog

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Investors have high expectations for PLAY’s future

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