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Home / Business / When ETH fell, the XRP pump continued to rise and the price reached $0.30

When ETH fell, the XRP pump continued to rise and the price reached $0.30



In recent weeks, the prices of almost all the most popular cryptocurrencies have soared. Bitcoin briefly touched $12,273 last night And Ethereum It briefly touched $400. But then in the early morning, both coins collapsed. The peak price of Bitcoin was $12,273, which fell to $11,235 in five minutes. The peak price of Ethereum was $411, falling to $373.

However, the cryptocurrency Ripple (XRP), which ranks third in market value, is struggling. It reached a peak of $0.322561 at about 5.30am, and only slightly fell back to $0.293835 (each XRP is still only a fraction of ETH and BTC, all Decimal point count). In the past week, it has risen by 42%, Through CoinGecko, According to CoinMarketCap, it was 9.6% in the past day.

According to data from CoinMarketCap, Bitcoin has fallen by 3.5% in the past 24 hours; despite the collapse of Ethereum, Ethereum still grew by 4.89% and XRP grew by 9.6%.

The driving force of Ethereum is more ambitious. It set a new high in two years, and XRP set its highest price since mid-February. But today this joke was made after the price of Ethereum fell off the cliff (how long is uncertain). Even if the current price is still 91

% lower than the all-time high of $3.40 set in January 2018, XRP remains the only major coin to be proud of.

As pointed out Hidden ballAccording to the total market capitalization ranking, the price increase of XRP in the past 20 cryptocurrencies has been the largest in the past week (XRP is #3).

XRP Reached $0.25 on Friday-The expected price point is regarded as a psychological resistance barrier for the militants XRP army But gradually decrease Ripple fan base. Then, $0.3 is the next obstacle, which will be touched if it is short.

Although the old and new members of the XRP army are certainly satisfied with the increase in token prices, there are concerns that the sell-off will weaken this momentum. It can be seen from the “Whale Alert” that Ripple transferred a total of 1 billion XRP from its escrow wallet (usually once a month), and then locked 800 million XRP back into escrow.

What about the remaining 200 million XRP? At the time of writing, Whale alert So far, Ripple has shared a large number of transactions from Ripple between the Ripple OTC Distribution wallet and unknown wallets, totaling approximately 86 million transactions.

Another lingering question mark is Ripple co-founder Jed McCaleb, who was owed 9 billion XRP after he left as part of a settlement with the company. Another transaction yesterday Display 56,330,248 XRP Transfer from a settlement account to his personal wallet.

According to the agreement with the company, McCaleb is allowed to sell part of the daily trading volume of XRP, and he has been selling About 2 million XRP per day.

However, if McCaleb intends to sell a much larger price at a time to take advantage of the rising price, he might put a damper on this pump. The faithful XRP is There has been an argument on social media About this possibility.

Disclaimer

The views and opinions expressed by the author are for reference only and do not constitute financial, investment or other advice.




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