108 million XRP tokens move to Bitstamp, dump coming?
Amidst the ongoing decline, XRP whale wallet address “r4wf7” has continuously moved more than $27 million worth of tokens to Bitstamp over the past four days. According to blockchain transaction tracker Whale Alert, the same whale transferred a significant 26.7 million XRP tokens worth $15.3 million to Bitstamp today.
108 million XRP tokens to Bitstamp
Channeling these latest signals, this whale has moved more than 108 million XRP, worth $64 million, to Bitstamp in four consecutive trading days. At the same time every day, such a significant transfer is causing concern for investors and can affect the price of XRP.
Since the whale started moving these signals, the price of XRP has continued to decline. According to the information obtained from Trading View, the price has decreased by more than 9% in the last four days.
XRP price analysis
At the time of press release, XRP is trading near the $0.57 level and has lost more than 5% in the last 24 hours. Meanwhile, XRP trading volume also decreased by 6.5% during the same period. This decrease in transaction volume indicates low participation of traders and investors.
On the other hand, if we take a longer look at its performance, it has seen a price increase of more than 14% in the last 7 days.
XRP price prediction
According to expert technical analysis, XRP looks bearish and there is a high probability that it will fall by 15% in the coming days. The potential reason behind this expected price decline is the continued resistance from the descending trend line.
Based on historical price progress, whenever XRP has entered this trend, it has always experienced a significant drop in price. This time we see the same pattern repeated. So far, XRP's open interest has decreased by 4.5% in the last 24 hours, indicating a decrease in interest from investors and traders.
