🚨 Alert: Ripple dumps $500M in $XRP – Major Market Turmoil Coming! 🚨
Ripple’s massive move to dump 200 million XRP, worth $500 million, has sent shockwaves through the market! With XRP struggling to recover from recent price corrections, this unprecedented sell-off could hamper its recovery as new supply floods into the market.
🔑 Key insights:
1️⃣ Ripple Massive Sell:
On December 11, Ripple liquidated 200 million XRP through the address 'rP4X2h(...)', pumping $486 million into the market. With XRP at $2.43, this strategic move adds significant supply, which could slow down the price recovery.
2️⃣ XRP faces obstacles:
XRP’s momentum has faltered after briefly reaching the third spot by market cap. Now at $2.43, XRP is struggling to break through resistance. The Relative Strength Index (RSI) signaled a pullback on December 4, which came with a significant price drop.
3️⃣ Market impact:
XRP’s market cap is now $138.8 billion, close to Tether’s $139 billion. Ripple’s sell-off could prevent XRP from regaining its footing, as the increased supply could dampen any upward momentum.
📉 Recent price trends:
November 29: XRP hits $100 billion in market cap, briefly surpassing Solana.
December 4: XRP rose to a high of $2.90, peaking at $165.74 billion in market cap.
Current price: Trading at $2.43, with a tight race against USDT for market dominance.
🚀 XRP's path forward:
Bullish hope: XRP has recovered from previous declines, and a strong rally could push it back to the third spot.
Risk: Ripple’s ongoing token sales could impact growth in the short term, as Tether (USDT) and USDC continue to challenge XRP’s position.
⚠️ IMPORTANT: Watch for increased volatility, as Ripple's strategy and market conditions greatly influence $XRP's next move.
XRP
2.4126
-0.37%