XRP Price Prediction: What to Expect in the Next 48 Hours

• XRP’s price rose 0.75% over the past 24 hours and stood at $0.4826 at press time.
• A symmetrical triangle had formed on XRP’s 4-hour chart which suggested its price may breakout soon.
• XRP was recently rejected by a medium-term negative trend line, causing it to drop below a key support level.

The on-chain tracking platform, Whale Alert, revealed in a recent X (formerly Twitter) post that there has been a substantial amount of Ripple (XRP) move from an anonymous wallet to a cryptocurrency exchange. According to the post, 30,700,000 XRP tokens, valued at $15,315,06,1 were transferred to Bitstamp.

30,700,000 #XRP (15,315,061 USD) transferred from unknown wallet to #Bitstamphttps://t.co/RKg2IJsW8e

— Whale Alert (@whale_alert) October 10, 2023

Further, on-chain analysis revealed that the wallet that initiated this large transfer belonged to Ripple Labs. The company sent this large amount of tokens to an exchange while the remittance token’s weekly performance was deeply entrenched in the red zone.

XRP Current Market Standing

Ripple (XRP) is ranked as the fifth biggest cryptocurrency based on its market cap, according to CoinMarketCap. It experienc…

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