Connect with us

Altcoin

Whales Transfer 230M XRP Ahead Judge Torres’ Final Judgment

Published

9 months ago

on


XRP whales have again taken action to shuffle 230 million coins as the Ripple vs. SEC lawsuit, with fines reaching approximately $2 billion, looks for a conclusion. On-chain data shows both dumps and transfers between wallets, recorded in hand over the past day, birthing riveting speculations surrounding XRP’s future price movements.

The latest update in the lawsuit, wherein Judge Torres’ Doctrine stood, and XRP secondary sales aren’t securities, has tilted the balance somewhat toward Ripple’s favor. The massive whale activity, emerging in the lawsuit’s aftermath has gained significant traction.

Whales Shuffle 230 Mln Coins

According to the insights streamlined by Whale Alert on X, 230.93 million XRP, worth $109.21 million, was collectively shifted by whales over the past day. While one dumped 30.93 million coins to Bitstamp, the other shifted 200 million coins to an unknown wallet.

As per the data, the renowned whale …Rzn was recorded as making the dump, whereas the whale rP4X2hTa7A shifted 200 million coins to rJqiMb94hy. These transactions have stirred up somewhat mixed sentiments in the market.

While one whale’s transaction sparked bearish concerns, the other’s transaction underscored heightened on-chain activity. Also, it’s worth noting that XRP whale accumulations have surged remarkably amid the token’s recent illustration of consolidation above the $0.46 support. This spike in accumulations, coupled with the recent development in the Ripple lawsuit, has tilted the odds towards XRP.

Meanwhile, the Ripple-backed asset traded in the green today, moving alongside the broader crypto market’s movement.

Also Read: German Govt Dumps 400 BTC to Major Exchanges, Transfer Spree Continues

XRP Price Springs

At the time of writing, XRP price noted gains of 1.39% over the past day to trade at $0.4802. Its 24-hour lows and highs were evaluated as $0.4716 and $0.4814, respectively.

Coinglass data spotlighted a market uptrend for the crypto, with a significant uptick in its Futures OI and derivatives volume. XRP OI jumped 4.31% to $606.63 million, followed by a derivatives volume upsurge of 58.30% to $499.20 million. This data underscored a significant increase in investor enthusiasm for the asset.

Nonetheless, the RSI moved along a neutral territory at 45, stirring mixed sentiments on future price movements.

However, a recent report by CoinGape further spotlights a potential $6 price target for XRP ahead, with the lawsuit and technical factors weighing in.

Also Read: US Govt Moves $12M Ethereum, Is Bitcoin-Style Selloff Incoming?

✓ Share:

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.

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.





Source link

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Altcoin

Pepe Coin Whale Sells 150 Billion Tokens, Price Fall Ahead?

Published

38 minutes ago

on

March 29, 2025

By


The negative sentiment in the digital currency ecosystem is finally reflected in the Pepe Coin market. According to Lookonchain’s update, one of the memecoin’s whales has initiated a massive selloff. This selloff has further compounded the bearish outlook of the token, further dampening the outlook around the memecoin.

PEPE Whale Selloff, Key Implications

Per the Lookonchain update on X, the PEPE OG sold 150,000,000,000 tokens worth over $1.14 million in early trading. The analytics platform noted that this OG entered the PEPE market earlier. The whale reportedly spent only $2,184 to buy 1.5 trillion PEPE, valued at over $43 million at the peak.

This whale has sold off 1.02 trillion PEPE thus far for $6.66 million. Onchain records show he still has 493 billion PEPE of the original stash. This leftover is worth $3.64 million, representing a total profit of $10.3 million or 4,718x.

Whales selling off an asset is typically not a vote of confidence for the digital currency. This selloff is not uncommon to memecoins, and for PEPE, this may further dampen the negative outlook of the token.

PEPE Coin Price Outlook

Earlier this week, CoinGape reported a 500 billion PEPE accumulation by a whale, a move that many hoped could push the price up. However, the reverse is the case as Pepe Coin price is currently trading for $0.0000073, down 5.57% in past 24 hours.

Despite the broader market downturn, PEPE has come off as one of the biggest losers overall. Per the current setup, the token moved from a 24-hour high of $0.00000787 to its current price. While the token has maintained a marginal growth of 0.54% in the past 7-days, it has registered a 62% drawdown Year-to-Date (YTD).

It remains unknown how the current PEPE Coin outlook will play out. However, a halt in whale selloffs and a shift in the broader memecoin market fundamentals might fuel its recovery.

Crypto Market and Memecoin Rebound

The broader crypto market is down today, facing negative pressures from the economic uncertainty in the broader financial market.

Bitcoin has continued to weigh the altcoins down, explaining the PEPE-correlated selloff. Assets in the memecoin market, like Dogecoin and Shiba Inu, have also been down 5.58% and 3.3% in the past 24 hours.

With the weekend volatility, top assets might see more price drawdowns overall. Analysts are optimistic about BTC’s future recovery, which can have a ripple effect on the broader market.

✓ Share:

Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

Follow him on X, Linkedin

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.





Source link

Continue Reading

Altcoin

Expert Predicts Listing Date For WLFI’s USD1 Stablecoin, Here’s When

Published

3 hours ago

on

March 29, 2025

By


Nearly a week ago, Donald Trump’s World Liberty Financial (WLFI) annnounced the launch of the USD1 stablecoin but the absence of a listing date continues to stump investors. However, an analyst says the stablecoin will make its debut on exchanges as early as April 1, baring any delays to stablecoin regulation in the US.

Expert Says USD1 Stablecoin Will List On April 1

Pseudonymous crypto analyst xHuai.eth took to X to predict a potential listing date for WLFI’s USD1 stablecoin. According to the analyst, the USD1 stablecoin may be available for trading as early as April 1 in line with industry conventions.

The analsyt disclosed that stablecoins are typically listed on exchanges within days of the annnouncement. WLFI announced the launch of the USD1 stablecoin on March 25 issued on Ethereum and Binance Smart Chain.

xHuai.eth disclosed that stablecoin listings on exchanges hinge on the completion of necessary technical steps. From the announcement, tapping Ehtereum, Binance Smart Chain, and Bitgo for custodial service indicates a completion of the technical steps.

Furthermore, xHuai.eth says that WLFI will be pressured to speed up listing processes to compete with USDT and USDC.

“With the announcement on March 25, the timeframe of March 31 to April 5 is reasonable,” said xHuai.eth. “April 1 is the most feasible date if there are no delays.”

Stablecoin Regulations May Affect The Listing Process

According to xHuai.eth’s analysis, incoming stablecoin regulation in the US will play a role in the USD1 stablecoin listing. The WLFI has previously mentioned that the launch on exchanges hinges on “regulatory approval” for stablecoins.

The US is hurtling toward stablecoin regulations with the GENIUS Act and STABLE Act piquing the interest of the White House. With authorities keen on expediting the passage of regulations, xHuai.eth argues the WLFI will move to list the USD1 stablecoin.

However, a delay in the regulatory process could lead to listing in late April, a scenario that xHuai.eth sees as unlikely. Authorities expect stablecoin regulation to go live in the US within two months driven by full support from the executive arm.

Following the release of the full draft of the STABLE Act, Sonic Labs is abandoning plans for an algorithmic stablecoin. Other issuers are positioning themselves to spearhead the government plans to maintain the dollar’s supremacy using stablecoins.

✓ Share:

Aliyu Pokima

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.





Source link

Continue Reading

Altcoin

Did XRP Price Just Hit $21K? Live TV Display Error Goes Viral

Published

7 hours ago

on

March 29, 2025

By


The recent XRP price glitch on live American TV has created ripples in the crypto community. In an episode of “American Sunrise Early Edition” on Real America’s Voice, the value of XRP soared to a staggering $21,355, marking a 961,936% uptick from its actual price at the moment.

Notably, other cryptocurrencies like Bitcoin, Ethereum, Solana, Dogecoin, and Cardano also saw variations in their prices during the live TV program. Though the host, Jake Novak, addressed Bitcoin’s price anomaly, he overlooked the XRP glitch.

XRP Price Glitch on Live American TV: Key Details

During an episode of American Sunrise Early Edition on Real America’s Voice, the show displayed incorrect prices for major cryptocurrencies, including Bitcoin and XRP, with the values being significantly different from their actual market prices. For instance, the XRP price was displayed as $21,355, up by more than 961,936% from its actual market value of $2.1.

Throughout the market outlook segment, the XRP price glitch remained on the screen, fluctuating between $2.22 and $21,355. The community largely responded to the incident, drawing the team’s attention to the error.

This incident follows the increasing anticipations of the Ripple lawsuit settlement, driven by the SEC’s recent progressive stance.

XRP’s Repeated Price Glitch

As highlighted by the community members, it’s not the first time that XRP has experienced a price glitch. Historically, the token has seen dramatic price variations due to system errors.

In June 2024, XRP was shown on TradingView at $9,864, a point much higher than its original value. A glitch on Binance presented XRP at $5,791 due to data feed issues in October. In a similar incident, XRP’s value was incorrectly displayed on CoinMarketCap in November 2023, with the platform showing it at $1,919, a significant deviation from its actual market value.

Host Addresses Bitcoin Price Anomaly, Overlooks XRP

Notably, the technical issue on the American live TV has resulted in incorrect price displays for not just XRP, but several other cryptocurrencies. The episode presented Bitcoin’s price at $43,636, marking a significant drop of around 50% from the original value.

Meanwhile, Ethereum (ETH) rose to $6,000, a 156% surge and Solana (SOL) increased to $2,896, up by 1,983%. Dogecoin (DOGE) skyrocketed to $32, a 15,900% increase from $0.22, and Cardano (ADA) increased to $69, a 10,198% rise from $0.67.

Addressing the issue, the show’s host, Jake Novak, stated that the “graph had gone a little funky.” However, he only addressed the Bitcoin price glitch, overlooking the issues with other cryptocurrency values, including XRP.

How XRP Reacts To the Incident?

As of press time, XRP is valued at $2.10, with a notable decline of 5.5% over the past 24 hours. On a weekly and monthly basis, the token has experienced massive dips of 12.9% and 7.3%, respectively.

Despite the prevailing negative trend, the XRP price is facing a positives sentiment within the community. This is significantly evident in the 14.5% surge in the trading volume, currently at $4.18 billion.

✓ Share:

Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

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.





Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io