Whales 360 Million XRP Purchase Creates Ripple – Is $0.55 on the Horizon?

By Lola Coin Jun 29, 202372Views

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The uncertainty surrounding XRP

The ongoing legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC) has created uncertainty about the future of XRP. This uncertainty is reflected in XRP’s recent price decline.

Whales acquired 360 million worth of XRP for almost $170 million during a period of price decline.
This suggests renewed trust in the cryptocurrency and could boost confidence among smaller investors.
XRP currently faces an important support level at $0.43, with resistance at $0.483 and $0.55.
The number of active XRP addresses has spiked, indicating a potential price rally.

Hot Take: The recent whale purchase of XRP may provide stability to the market and establish a price floor. However, the future of XRP remains uncertain.

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