Ripple moves $465 million worth of XRP as analyst predicts $15 million price
- XRP movement by Ripple.
- XRP price impact.
- XRP to $15?
Ripple, the company behind the XRP , recently moved 200 million tokens from its March sale pool, totaling approximately $465 million. This move has sparked speculation about the potential impact on the price of XRP.
The practice of unlock Ripple’s token movement is nothing new. Every month, the company releases 1 billion XRP from previously defined deposits, and a portion of these tokens is earmarked for sale on exchanges. This pattern has been repeated for years, with Ripple transferring some of the tokens to intermediary accounts before their final distribution.
The possibility of selling the amount moved by the company has raised concerns about potential downward pressure on the cryptocurrency's price. The large amount of tokens available for sale could increase supply in the market, which could theoretically lead to a drop in the price. However, the actual impact on the price of XRP will depend on several factors, such as market demand, investor sentiment, and the overall conditions of the cryptocurrency market.
At press time, XRP is trading at $2,37, up 4.4% in the past 24 hours. Earlier, the cryptocurrency peaked at around $2,39 but has pulled back slightly in the past few hours.
Analyst predicts XRP price to reach $15
Amid the recent scenario, renowned cryptocurrency analyst Ali Martinez shared a very bullish prediction for XRP, suggesting a bullish rally towards an impressive $15.
“XRP Could Skyrocket to $15. Since January 2018, XRP appears to be forming a symmetrical triangle pattern, indicating a potential bullish continuation, where each lower high that XRP has made has created a descending trendline at the top and each higher low has created an ascending trendline at the bottom.”
According to the expert, now that XRP has broken out of the triangle mentioned in the analysis , there is a chance that XRP could continue rising to reach a target of $15.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Fast food chain giant Steak 'n Shake asks whether it should accept BTC, and many KOLs respond
Telegram Founder Pavel Durov Leaves France, Moves to Dubai
Telegram founder Pavel Durov allowed to leave France and return to Dubai
Trending news
MoreCrypto prices
More








