{"id":300664,"date":"2024-05-13T10:12:20","date_gmt":"2024-05-13T04:42:20","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=300664"},"modified":"2024-05-13T10:12:20","modified_gmt":"2024-05-13T04:42:20","slug":"xrp-price-slips-below-0-5-as-whale-offloads-30m-xrp-whats-next-crypto-news-2","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/xrp-price-slips-below-0-5-as-whale-offloads-30m-xrp-whats-next-crypto-news-2\/","title":{"rendered":"XRP Price Slips Below $0.5 As Whale Offloads 30M XRP, What’s Next? – Crypto News"},"content":{"rendered":"

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The Ripple Labs-backed cryptocurrency, XRP, has ignited a torrent of bearish market sentiments today, May 13, slipping below the highly psychologically important level of $0.5. Illustrating signs of a pullback in the past seven days, the token has continued a waning price trajectory, with a whale\u2019s massive dump further increasing downside pressure for the token.<\/p>\n

Blockchain<\/a> data illustrates that amid the token\u2019s tumbled price movement in the past 24 hours, a renowned XRP whale offloaded slightly above 30 million tokens to an exchange. The Ripple Labs-backed token has, in turn, dipped below $0.5 following the massive dump.<\/p>\n

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XRP Whale Activity Sparks Investor Concerns<\/h2>\n

According to the data revealed by Whale Alert, 30.23 million XRP was moved to Bitstamp by a renowned XRP whale<\/a>, ..Hh4Rzn. Notably, this whale has been much assumed to be a potential Ripple-linked address.<\/p>\n

Although no concrete proof has been offered yet, it\u2019s worth noting that this address dump to Bitstamp soon emerged as a recurring phenomenon following Ripple\u2019s<\/a> strategic stake acquisition in the CEX. Numerous reports by CoinGape Media have further brought these transactions to the spotlight.<\/p>\n

Looking at the token\u2019s daily timeframe chart, it can be seen that soon after the abovementioned whale transaction took place, prices further noted a dip, with XRP falling below $0.5. Here\u2019s a deeper dive into the token\u2019s current price movements and market statistics.<\/p>\n

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Also Read: AI News: 5 Potential Updates OpenAI May Announce This Week<\/a><\/strong><\/p>\n

XRP Price Tumbles<\/h2>\n

As of writing, XRP\u2019s price<\/a> has tanked 2.94% in the past 24 hours and is currently trading at $0.4929. The token\u2019s market cap slipped 2.88% to $27.29 billion, while the 24-hour trading volume jumped by 42.09% to $586.47 million.<\/p>\n

Coinglass data showcased a 0.47% dip in XRP\u2019s open interest to $553.19 million, whereas the derivatives volume spiked 88.82% to $553.19 million. This data has painted an uncertain market scenario for XRP, whilst the token\u2019s recent dip appears to have nabbed significant attention.<\/p>\n

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In a post shared by pro-XRP lawyer<\/a> Bill Morgan today, the token\u2019s dip to the $0.4 price level was further brought attention to. Meanwhile, the RSI (Relative Strength Index) hovered at 37, underscoring some downside pressure for the token in the market. Also, the technical indicators flagged a robust selling sentiment among investors.<\/p>\n

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One week to forget pic.twitter.com\/xYdWKW8Wvl<\/a><\/p>\n

\u2014 bill morgan (@Belisarius2020) May 13, 2024<\/a><\/p>\n<\/blockquote>\n

This has clouded expectations of XRP scaling the much-awaited level of $1 shortly. Further, the Ripple vs. SEC<\/a> legal tussle has contributed to the token\u2019s turbulence and sluggish performance.<\/p>\n

Also Read: Bitcoin (BTC) Price: Analyst Unveils 2 Likely Scenarios To Watch<\/a><\/strong><\/p>\n

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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The Ripple Labs-backed cryptocurrency, XRP, has ignited a torrent of bearish market sentiments today, May 13, slipping below the highly psychologically important level of $0.5. Illustrating signs of a pullback in the past seven days, the token has continued a waning price trajectory, with a whale\u2019s massive dump further increasing downside pressure for the token. […]<\/p>\n","protected":false},"author":2,"featured_media":201647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-300664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/300664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=300664"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/300664\/revisions"}],"predecessor-version":[{"id":300668,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/300664\/revisions\/300668"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/201647"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=300664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=300664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=300664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}