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XRP Price: Ripple Locks 800M Coins Amid Massive XRP Movements, What’s Next?
The XRP price was on the investors’ radar today, amid a massive whale transfer of the coin. Meanwhile, Ripple has locked 800 million XRP to escrow today, amid a series of other hefty transfers, which have sparked speculations over the potential move of Ripple behind the transfers. Notably, this move comes after the firm unlocked 500 million XRP from Escrow recently.
Ripple Locks 800 million XRP Amid Massive Whale Transfer
XRP, the native crypto of Ripple, has gained traction in the market today, as evidenced by the surge in its price. Meanwhile, Ripple has locked 800 million in three transactions to Escrow, sparking speculations in the broader crypto market.
This action follows Ripple’s routine strategy of unlocking 1 billion XRP from Escrow each month. While such releases are customary, they play a crucial role in Ripple’s operational dynamics.
Previously, XRP lawyer Bill Morgan said that a portion of the released XRP is utilized to enhance the circulating supply, while the majority is returned to Escrow. Meanwhile, Ripple’s Escrow Strategy aims to ensure liquidity in the market and facilitate seamless cross-border transactions.
Despite potential short-term fluctuations in XRP’s price due to increased supply, this approach aligns with Ripple’s long-term vision for sustainability in the cryptocurrency ecosystem. In addition, the locking of XRP underscores Ripple’s commitment to managing its token supply judiciously.
Meanwhile, this strategic move not only supports Ripple’s operational objectives but also contributes to the broader stability of the cryptocurrency market. As Ripple continues to navigate the complexities of the crypto landscape, its Escrow Strategy remains instrumental in shaping its trajectory and ensuring sustained growth and innovation.
Also Read: Terraform Labs Refuses to Pay $5.3 Billion Fine, Says SEC Has No Evidence
Price & Performance Amid Massive Transfer
The recent locking of XRP by Ripple has further stirred speculations amid massive transactions noted recently. According to Whale Alert, Ripple has moved 60 million XRP to two unknown wallets in two transactions, each consisting of 30 million coins.
However, before shifting the 800 million XRP to Escrow, Ripple received 1 billion XRP from three addresses, sparking speculations in the crypto market. Notably, the transfer has been further watched closely by the investors, as the Ripple Vs. SEC lawsuit intensified this, with the SEC filing its reply. Now, the market is eagerly anticipating Ripple’s next move for further legal clarity on the matter.
Meanwhile, despite a dip in major cryptos like Bitcoin, Ethereum, and others, the XRP price was up 2.10% to $0.5091. Notably, its volume over the last 24 hours rose 29.39% to $1.77 billion, with its current market cap standing at $28.18 billion. The XRP crypto has touched a high of $0.5202 and a low of $0.4802 in the last 24 hours.
Also Read: Bitcoin (BTC) Price Slump Hints Major Trouble Ahead for Global Markets
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.
The Pi coin price has hit a new all-time high (ATH), sparking a bullish outlook for the crypto. This rally to a new ATH, especially amid the downtrend in the broader crypto market, has cast doubts about the scam allegations against the Pi network.
Pi Coin Price Hits New All-Time High
CoinMarketCap data shows that the Pi coin price has hit a new all-time high of $2.98 today, just six days after it hit an all-time low of $0.6. This development is more significant considering that the coin has defied the odds and rallied amid the recent crypto market crash, which led to a significant price decline for Bitcoin, Ethereum, Solana, XRP, and other major digital assets.
Pi’s rally to a new ATH has again raised discussions about whether the Pi network is a scam. Prior to the network’s mainnet launch, some crypto community members had described it as a scam, and also, after the launch, these scam allegations persisted as the Pi coin price crashed to new lows.
In fact, Bybit CEO Ben Zhou labeled the Pi network as a scam and reiterated that his exchange wouldn’t list the token. Meanwhile, in an X post, crypto influencer SHIB Gems opined that the Pi network is a scam even though he believes market participants can still make money from the coin.
Network Responds To Scam Allegations
In an X post, the Pi network responded to Ben Zhou’s scam allegations. The team stated that the network is not affiliated with, nor did it authorize or engage in any activity that is related to the Chinese police’s warning. They also added that the network has not been contacted by any police department in China regarding any scam incident.
The team further described the Pi network as a “legitimate platform.” According to them, this is obvious based on its six-year track record and over 60 million engaged users. They also explained that the delay in the network’s mainnet launch, which took place on February 20th, was deliberate to ensure the project was successful and fully developed before launch.
The delay also happened because the team wanted a well-established community to mitigate challenges other launches face, including actions that unaffiliated bad actors perpetrate. Meanwhile, they reaffirmed that the Pi network isn’t associated with the social media accounts that attacked the Bybit CEO and condemned those who made these comments against Zhou.
Pi Coin To Hit $10
Following the rally to a new ATH, crypto analyst Gem Hunter has predicted that the Pi coin price could still rally to as high as $10. He noted that despite other coins dumping and the market being bearish, Pi still hit $2.
The analyst alluded to a potential Binance listing, which looks to be among the reasons he is confident that the Pi coin price can trade above $5 and possibly hit $10. The analyst rightly predicted that Pi would hit $2.8, which has happened even before the top crypto exchange listed the coin.
Crypto community member Moon Jeff asserted that Pi is coming to Binance. He revealed that 192,000 Binance users had voted for the Pi listing on the top crypto exchange as of yesterday. On the other hand, 29,000 users have voted against the coin’s listing.
Seeing that most have voted in favor of a listing, Moon Jeff stated that Binance might list the Pi network soon enough. A Binance listing is undoubtedly bullish for the Pi coin and could send its price to new highs. However, it is worth mentioning that many Pi users have yet to receive their allocations. As such, the coin could witness significant selling pressure when users receive their tokens.
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.
The price of Ethereum (ETH) is at a crucial pivot point as the market bulls are clearing the losses of the past 24 hours. In the heat of the market drawdown, ETH’s price dropped to as low as $2,369.48 before staging a recovery. With the sentiment generally improving, the question remains how high the recovery could be.
Ethereum Price and Altcoin Volatility
At the time of writing, the ETH price changed hands for $2,400, up by 2.33% in the past 24 hours per CoinMarketCap data. The coin climbed as high as $2,529.66 in its staged recovery move before settling in at its current level. Despite the mild recovery, Ethereum is seeing intense volatility-defining price fluctuations.
With the Ethereum rebound, the coin is not out of the woods. The broader market has yet to pare off its accrued losses completely. Bitcoin price has decreased by over 10% in the past week to $86,388.01.
Ultimately, the altcoin correlation has created a bearish setup that might further drag ETH down. An earlier ETH price analysis explored the prospect of the coin’s recovery. Despite rising social dominance, headwinds stirred by macroeconomic trends are still weighing the coin down.
ETH Price To $3,000, Is It Possible?
Ethereum’s outlook is not promising if the price continues to slide. Since mid-November, the coin has dropped by over 43%. By implication, the 50-day Moving Average (MA) is on track to fall below the 200-MA, a classic death cross formation.
ETH may face this death cross if the market continues to fall, dragging the price further down. However, the coin has showcased resilience over the past year. Per market data, it has not dropped below the $2,159 price mark, a major support level to watch.
While there is limited backing that the coin is oversold and triggering a need for a price rebound, cautious bets are advocated for investors.
Ethereum Fundamentals Is Promising
Beyond the price outlook, the Ethereum ecosystem is in the news, complementing some of the positive technical settings boosting recovery.
As reported earlier by CoinGape, the Ethereum Foundation said it will donate $1.25 million to the lawsuit defense of Tornado Cash co-founder Alexey Pertsev. Beyond this, the foundation unveiled a leadership shift earlier this week with Ava Miyaguchi becoming President.
Though with a rocky start, the Pectra Upgrade is still in view with its impact on the network set to drive adoption. Unlike an ecosystem with mostly negative social sentiment, Ethereum has positive sentiment with a potential price impact in view.
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.
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.
The Ripple market is facing heightened uncertainty as the TD Sequential indicator signals a potential bearish reversal. This development comes at a time when XRP price has experienced increased selling pressure, notably from large-scale holders. Traders and investors are debating market trends to assess the next possible move for XRP price.
TD Sequential Sell Signal Suggests Potential XRP Price Correction
Analyst Ali Martinez has identified a sell signal on XRP price using the TD Sequential indicator. This technical tool, widely recognized for predicting trend reversals, has been reliable in the past when analyzing XRP price movements. The indicator recently flashed a “1” sell signal on the two-week chart, which suggests that the asset could enter a corrective phase.
Previous occurrences of this signal have successfully marked turning points in the market. In past cycles, the indicator identified key support and resistance levels, allowing traders to anticipate potential shifts in the altcoin price direction. The recent sell signal appears at the top of an uptrend, reinforcing concerns about a possible slowdown in bullish momentum.
This bearish signal coincides with an ongoing decline in XRP price, which has already experienced a notable downturn in recent days. Investors are now closely monitoring price action and additional technical indicators to determine whether this signal will lead to a prolonged downtrend or a temporary correction.
However, despite the bearish crypto market, a recent CoinGape report has highlighted the top three reasons Ripple could surge by 300% in March 2025. The report points to XRP’s MVRV ratio entering an opportunity zone, rising whale accumulation, and positive regulatory developments, including a potential closure of the SEC case and progress on XRP ETF filings.
Technical Indicators Show Mixed Signals
While the TD Sequential indicator suggests a bearish phase, other technical indicators provide a mixed outlook for XRP price. The Parabolic SAR, which tracks trend direction, has recently flipped below the price, indicating a potential shift in momentum. This could mean that the ongoing downtrend is weakening, allowing for stabilization or a possible rebound.
Similarly, the MACD (Moving Average Convergence Divergence) indicator reflects decreasing selling pressure. The MACD line remains below the signal line, confirming the existing bearish trend. However, the histogram bars have started shrinking, suggesting a reduction in crypto market bearish momentum. If the MACD line crosses above the signal line, it could serve as a bullish reversal confirmation.
Whales Increase Selling Pressure
In addition to technical indicators signaling a correction, recent market activity has added pressure to XRP price. Data from analyst Ali Martinez reveals that Ripple whales recently offloaded 370 million XRP in 96 hours. This substantial sell-off contributed to a sharp 16% decline in Ripple price over the same period.
The whale dumping event occurred as the altcoin fell from $2.5 to $2.1, raising concerns among investors about continued downward movement. The broader crypto market has also experienced volatility, with global financial conditions and liquidity constraints affecting sentiment.
At press time, XRP price stands at $2.24, down 14.03% over the past seven days, reflecting a bearish trend. Despite the decline, XRP maintains a strong market cap of $129.78 billion, with ETF speculation potentially driving a rebound.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
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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