Ripple's XRP Price Climbs Above $0.50 Resistance, Signaling Further Upsides
Ripple's XRP token has surpassed the $0.50 resistance level against the US Dollar and is expected to continue rising towards $0.55 or $0.565.
Massive XRP Transfer to Bitstamp Crypto Exchange Detected by WhaleAlert Amidst Bullish Run
WhaleAlert, a crypto data tracker, has reported a transfer of 21,500,000 XRP worth $11,202,095 from an unknown wallet to Bitstamp exchange. This comes at a significant time as XRP's price has been rising since May 25. The daily Relative Strength Index (RSI) suggests that XRP's price may be overheated, but it remains in positive territory, indicating an advantage to buyers. XRP is currently decoupling from major cryptocurrencies and has risen 2.16% in the last 24 hours to $0.511. Traders should keep an eye on this trend.
Ripple Unlocks 1 Billion XRP Coins from Escrow in Monthly Distribution Strategy
Ripple Labs has released 1 billion XRP coins from its escrow account in three transactions. This is part of Ripple's monthly XRP distribution strategy, which aims to maintain the stability of the asset's price. The newly released XRP coins did not have a negative impact on the price of the cryptocurrency, which is currently trading at $0.508. Ripple's On-Demand Liquidity (ODL) clients will benefit from the release, as they use XRP as a bridge currency for cross-border settlements. Meanwhile, Ripple is still in a legal battle with the United States Securities and Exchange Commission, with a summary judgment decision expected on June 14.
XRP Price Rises 1% Despite Market Fall as Traders Await Ripple-SEC Case Decision, Wall Street Memes Launches WSM Token Presale
Despite a general market decline, XRP has seen a 1% increase in the last 24 hours, reaching $0.505788, and an 11% increase in the past week. This is due to traders and analysts expecting a positive outcome in Ripple's case against the SEC. While XRP is expected to have a breakout in June, traders may want to consider diversifying into other altcoins, such as Wall Street Memes' presale token. Wall Street Memes has already raised over $1.2 million in its presale, with the current fourth stage offering WSM at a price of $0.0259, which will increase to $0.03370000 by the end of the sale.
Bitcoin and Ether Trade Flat, XRP Surges Amidst Crypto-Related Legal Developments
Bitcoin remained stable on Wednesday morning in Asia, after briefly surpassing the US$28,000 level on Tuesday night. Ether dropped below US$1,900, while other top 10 non-stablecoin cryptocurrencies traded mixed.
XRP Breaks Two-Year Downtrend, Paving the Way for a New Chapter
XRP has broken out of a two-year downtrend, which has been highlighted by chartist JD. XRP has been performing well in the past few days, while other assets have been declining.
Bitcoin Fails to Break $28K Mark, Ripple (XRP) Sees 6% Gain in 24 Hours
Bitcoin failed to surpass the $28,000 mark on Wednesday, while other popular altcoins experienced minor gains and dips. Ripple was the top gainer, with a 6% increase in just 24 hours.
XRP Network Activity Soars as Sentiment and Volume Improve
XRP has experienced a significant increase in daily active addresses and improved sentiment, volume, and MVRV Ratio. It has outperformed other altcoins by increasing over 8% in the past week and over 4% in the last 24 hours, trading at $0.5004 with a market capitalization of over $23 billion. The network activity has also surged, with the second-largest address activity day of all time, indicating a possibility of continued surge.
XRP Bulls Flip Short-Term Bias to Bullish
Ripple's XRP has seen a 5.4% gain in the past 24 hours, breaking through the $0.494 resistance level. With Bitcoin also seeing gains, XRP bulls are expected to continue their momentum and aim for the April high of $0.547.
XRP Daily Active Addresses Has Observed An Uplift Recently
The number of active addresses on the XRP blockchain has recently reached historical levels, according to on-chain data from Santiment. The "active addresses" metric tracks the number of unique addresses participating in transaction activity on the network, indicating the degree of traffic the network is experiencing. High values suggest a large number of addresses are involved in transfers, indicating market activity, while low values suggest low interest in the cryptocurrency. The recent surge in active addresses may be a bullish sign for XRP, as a similar spike in March preceded a 45% rally in the coin's price.
