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XRP Battles Turbulence Amid 237M XRP Whale Transfers, $1 Still Possible?
One of the top cryptocurrencies by market cap, XRP, has continued to garner investor speculation today, July 9. Against the backdrop of massive whale movements, as nearly 237 million coins was shuffled, the Ripple-backed crypto illustrated a highly turbulent price action.
This chronicle has curated a tidal wave of speculations surrounding XRP’s future price trajectory. In particular, market participants speculate over XRP’s potential to scale its much-awaited wave three target of $1, which currently seems a highly optimistic scenario despite legal developments in the Ripple vs. SEC lawsuit.
So, let’s take a closer look at the whale movements recorded over the past day and what it indicates for future price movements.
237M Coins Shuffled Igniting Uncertain Market Sentiments
According to the data offered by Whale Alert on X, 237.45 million XRP was shifted in the past 24 hours. These transactions consisted of whale dumps and accumulations hand.
Notably, the renowned XRP whale, …Rzn, dumped 35.35 million coins, worth $15.19 million to the Bitstamp crypto exchange. Meanwhile, the whale address rfQ9EcLkU6 once again bagged massive amounts of XRP, worth $22.71 million, from Binance.
Intriguingly, in the midst of these transactions, a whopping 150 million coins, worth $64.28 million, was recorded to have been transferred from Ripple to the unknown wallet address rP4X2hTa7A. This transaction added a layer of intrigue to XRP’s market dynamics, as the motive remains unclear.
Although the XRP community has assured Ripple’s transfers are not dumps, investors remain apprehensive about such massive on-chain movements. Subsequently, the crypto itself has showcased a highly volatile movement, consolidating within the red territory at press time.
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XRP Price Slips
The XRP price chart by CoinMarketCap showed a 1.33% dip in value today, trading at $0.4347. Its daily bottoms and tops were $0.422 and $0.4421, hinting at a tight trading session.
Coinglass data illustrated a downfall of 2% in XRP’s Futures OI to $447.30 million, further accompanied by a 15.57% dip in the derivative volume to $1.16 billion. This downtrend in the derivatives market could be aiding the current price volatility.
XRP’s RSI rested along 38, underscoring downside pressure, further rationalizing the turbulent movement. This data has painted an uncertain portrait of XRP’s future movements, let alone its wave three target of $1.
However, it’s worth mentioning that as BTC price rebounded today, XRP mimicked an upturn to the $0.43 level before showing signs of consolidation. A recent analysis by CoinGape Media shows that XRP is trending below the 21-day, 50-day, and 200-day simple moving averages (SMAs), validating recent sluggishness.
Nonetheless, additional selling momentum could drive the token into oversold territory, presenting a path for upward movement. Lastly, as July 31 looms, the Ripple lawsuit’s nearing conclusion adds a layer of speculation on XRP’s future movements.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Solana’s Jupiter exchange has announced the acquisition of SolanaFM and Coinhall at the ongoing 2024 Solana Breakpoint conference. The decentralized exchange (DEX) also announced the imminent launch of its Jupiter Mobile, which will help easily onboard millions of users into the Solana ecosystem.
Jupiter Exchange Acquires SolanaFM And CoinHall
The decentralized exchange has acquired the native Solana data explorer, SolanaFM. The DEX aims to use this move to increase its data and infrastructure capabilities, providing its users with real-time information. DappRadar data shows Jupiter is one of the largest decentralized trading platforms on Solana, and this move is expected to help increase its market dominance.
Jupiter has also acquired Coinhall, a leading aggregator on the Cosmos Chain. Coinhall will integrate its Solana integration into the exchange’s products as part of the acquisition. The aggregator will bring its expertise in “pro-trading terminals, real-time infrastructure, and cross-chain” to the Solana DEX.
Furthermore, the decentralized exchange and Coinhall have collaborated to launch the Ape’s Pro trading terminal, focusing on meme coin trading. The platform will feature real-time streaming of new tokens, data, and charts for traders. Traders will also enjoy “superior transaction execution through dynamic Jito fees and MEV protection.”
The Solana DEX also plans to launch the Jupiter Mobile soon to onboard millions of users into the Solana ecosystem. The platform will boast zero fees, and users can buy SOL using Apple Pay, Google Pay, or credit cards. The decentralized exchange further revealed that the platform will boast a one-tap swap feature, ensuring it is straightforward to buy crypto.
Other Notable Announcements At Solana Breakpoint
The decentralized exchange also announced the launch of the Metropolis API platform at the Solana Breakpoint to make building on the DEX much easier. The update includes the Swap, Price, and Token API, which anyone can access via Metropolis. The DEX added that the goal is to allow developers to easily integrate with Solana’s liquidity and build a sustainable business on the platform.
The Solana DEX has also launched the Jupiter RFQ to help improve Solana’s liquidity. This move will ensure that the DeFi platform continues to provide the best prices across all platforms.
RFQ delivers an avenue for market makers who use centralized exchanges like Binance to provide liquidity on Solana easily. This update is expected to go live with a beta version next week. The DEX revealed that they are also working on integrating it into the main platform’s Routing.
The DeFi platform already has a reputation as one of the top decentralized exchanges for leverage trading and is set to solidify its position with its perps v2 platform. The v2 platform features three significant updates. It will boast a limit order, Dove Oracle standard, and gasless transactions for Perps trading.
These updates undoubtedly provide a bullish outlook for the Solana ecosystem. The announcement comes just a day after Solana revealed its new Seeker mobile. Meanwhile, as Coingape reported, the ZK Compression is live on the Solana mainnet.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
As the cryptocurrency market evolves, it’s becoming evident that hype alone can’t sustain a token’s value. This realization has led some of the largest Bonk (BONK) holders, known as “whales,” to diversify their portfolios by investing in GoodEgg (GEGG). Experts are now predicting a potential 100x return on GoodEgg (GEGG), with some of the most prominent Bonk (BONK) whales taking early positions in the token’s presale.
More Than A Memecoin: Bonk Whale Shift to GEGG
One of the largest Bonk (BONK) holders, previously known for their substantial investments in the meme coin space, has recently made headlines by becoming an early investor in GoodEgg (GEGG). This shift comes as Bonk (BONK) continues to face declining momentum, losing 2% in value over the last 24 hours, with weekly losses stacking up to 10%. The whale’s move reflects a growing sentiment that the current meme coin market is becoming oversaturated, with investors searching for projects that offer more than just speculative gains.
Bonk (BONK), once a rising star on the Solana network, has seen a significant reduction in trading volume, and many analysts believe that its future will depend heavily on finding new utility or partnerships to maintain investor interest. While the Bonk (BONK) community remains hopeful, the shift of whales to projects like GoodEgg (GEGG) highlights a growing trend among larger investors who prioritize long-term growth over short-term gains.
GoodEgg’s Strong Fundamentals
In contrast, GoodEgg (GEGG) offers more than just hype. It is a utility-driven project with an AI-based dating platform that leverages blockchain for security and privacy. The project’s innovative approach to online dating has sparked interest from investors who see it as a real-world solution with significant potential for user adoption.
GoodEgg’s presale has already raised over $495,000, showing that investors are eager to get in early on this project. The platform’s combination of blockchain security and AI matching technology provides a fresh approach in a saturated online dating market, which is expected to grow significantly in the coming years.
Experts Predict 100x Gains and Long-Term Scalability
Market analysts are now predicting that GoodEgg (GEGG) has the potential to generate 100x returns for early investors, particularly as its platform begins to attract more users and integrates additional features. The scalability of GoodEgg (GEGG) in the dating industry, combined with its AI-driven capabilities, gives it an edge over traditional meme coins like Bonk (BONK).
While Bonk (BONK) struggles to maintain its market position, GoodEgg (GEGG) is gaining traction among both retail and institutional investors. The whale’s entry into GoodEgg (GEGG) has further validated the project’s potential, with many now looking at it as the next big thing in the crypto space.
As the presale continues, those who missed out on Bonk (BONK) during its early days are now looking at GoodEgg (GEGG) as their next opportunity for massive gains. With strong fundamentals and a clear roadmap, GoodEgg (GEGG) is positioned to become a major player in the crypto market, leaving Bonk (BONK) in the dust as it builds a long-term, sustainable future.
Join GoodEgg (GEGG) For More Information On Presale, Use links below to join our community:
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FIDA and MEW, cryptocurrencies based on the Solana blockchain, saw noteworthy positive sentiment on Thursday as they secured vital listings. Solana Name Service (FIDA) secured a listing on Binance, whereas cat in a dogs world (MEW) scored a listing on Upbit. These listings have garnered significant attention globally as the tokens’ prices skyrocketed 25%-30% in tandem with the announcement.
Solana Tokens FIDA & MEW Secure Vital Listings On Binance & Upbit
According to official announcements by the mentioned exchanges on September 19, both the tokens are set to witness particular listings today. As per Binance’s official announcement, the crypto exchange is set to launch FIDAUSDT USD-Margined perpetual contract today at 12:30 UTC. Simultaneously, Upbit’s announcement revealed that it listed MEW with BTC and USDT pairs on the same day.
Intriguingly, Binance revealed that it listed FIDA with up to 75x leverage for users on the platform. Further, the crypto exchange set the capped funding rate at +2.00% / -2.00%.
Simultaneously, Upbit Korea listed cat in a dogs world within BTC and USDT markets. The Asian crypto exchange revealed that it will also add transaction support starting today.
The Solana coins listings have primarily sparked market optimism over future movements, paving the way for new money inflow into the tokens.
Tokens’ Prices Rocket Over 25%
Simultaneously, FIDA price gained nearly 45% against the backdrop of Binance’s listing announcement. The coin rested at $0.3243 today with an intraday low and high of $0.2204 and $0.3297, respectively.
Similarly, MEW price pumped nearly 26% to reach $0.00533 riding the back of Upbit listing. The coin’s 24-hour low and high were $0.00407 and $0.005728, respectively.
Meanwhile, the rising price action primarily aligns with today’s listing announcements, as seen with numerous tokens previously. CoinGape Media reported Kadena (KDA) price surged nearly 30% with its futures listing on Binance.
Also, another report reveals that PEPE and BRETT prices pumped notably on their listings on Upbit. Altogether, the exchanges’ listings rationalize today’s massive price gains.
Simultaneously, Coinglass data illustrated an 82% surge in MEW’s futures OI to $76.31 million. Additionally, the coin’s derivatives volume skyrocketed 531% to $735.63 million today. This surge has projected further optimism for the Solana-based token. Also, it’s worth noting that Solana (SOL) price upsurged 8% to trade at $140 today.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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