$40 Billion Worth Of XRP On The Move – Where Are They Headed?
Over $40 billion worth of XRP has been transferred to exchanges in the past week, indicating a potential sell-off risk. This movement coincided with XRP's price surge to $2.6, prompting profit-taking among investors. Bitcoin whales have also sold over 30,000 BTC, suggesting XRP whales may follow suit. XRP's price has dropped over 4% following a ruling from Judge Analisa Torres in the Ripple SEC lawsuit, which denied a motion for an indicative ruling. Key support for XRP is at $2.38; falling below this could lead to further declines, while holding above may allow for a rally. Analysts note a double bottom formation and resilience in price action, with potential targets between $27 and $33 in the current market cycle. As of now, XRP is trading at approximately $2.37, down nearly 2% in the last 24 hours.
