XRP Price Prediction as $700 Million Sends XRP Near $0.50 – Are Whales Buying?
The ever-evolving cryptocurrency landscape has lately been abuzz with talk surrounding Ripple (XRP), currently the fifth-largest crypto by market capitalization.
As of now, XRP's trading price hovers tantalizingly close to the $0.50 mark, registering at $0.497194. This figure comes alongside a significant 24-hour trading volume of $502 million.
Even though XRP has noted a marginal decline of around 0.50% in the past day, it boasts a robust market cap of $26 billion.
From its maximum supply of 100 billion XRP coins, over 53 billion are already in circulation.
As we deep-dive into the latest price predictions for XRP in this piece, a pressing query surfaces: Are crypto whales leaning more towards buying or selling XRP?
Amidst these considerations, the Torres Ruling emerges as a beacon of optimism for XRP enthusiasts.
However, Bill Morgan cautions that while this ruling is favorable, it doesn't necessarily bestow "final clarity" on every maneuver Ripple makes with XRP.
Date & Ruling: On July 13, 2023, District Judge Analisa Torres delivered a nuanced verdict concerning Ripple Labs and its leadership.
Upon analyzing the XRP/USD technicals, we observed a significant resistance level at 0.5040. This resistance has consistently been evident, notably in the first week of September and again on September 15th.
Concurrently, a support channel on the hourly chart positions XRP around the 0.4935 mark.
Should XRP confidently breach the 0.5048 resistance, the cryptocurrency might target the next resistance at approximately 0.5120.
Beyond this, the 0.5200 level will likely serve as a substantial barrier for XRP. On the downside, the 50-day exponential moving average is poised to provide support near the 0.4900 mark.
However, should XRP
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