XRP Price Outlook: Ripple Whales Shed 48 Million Tokens Amid SEC Appeal Confirmation

XRP Price Outlook: Ripple Whales Shed 48 Million Tokens Amid SEC Appeal Confirmation
фото показано с : bravenewcoin.com

2024-10-21 15:00

Lately, Ripple whales have been making moves that have contributed to the uncertainty around the XRP price. In a recent transaction, it was observed that over 48 million XRP tokens were dumped by Ripple whales. XRP whales seem to be in a selling frenzy today, leading to a nearly 2% drop in XRP’s price. This activity coincides with the US SEC’s last-minute appeal in the ongoing Ripple SEC case, prolonging the already lengthy legal dispute.

XRP Price Plunges Into More Uncertainty As Ripple Whales Offload 48 Million Tokens

According to on-chain analytics firm, Whale Alert data, a Ripple whale, identified by the address “rDgP1….1pCvK” has sent 20 million XRP, worth $10.98 million, to Kraken. This dump has sparked speculations, as the token’s price was also noting a decline today.

Simultaneously, another whale, identified by the wallet “r4wf7…h4Rzn” has dumped 28.3 million tokens, valued at $15.39 million, to Bitso exchange. Notably, these massive dumps by the investors to these top crypto exchanges have fueled discussions if further selloff is incoming.

Ripple whales have been disappointed due to the legal case with the SEC which has drastically affected the XRP price. However, with more Ripple whales selling off their holdings, the road to a resurgence for the XRP price might take a longer while.

While more uncertainty brews around XRP price, its current weekly range sits between $0.5226 to $0.5543, according to CoinGecko. However, should more Ripple whales sell off their holdings, XRP price may drop further amid waning investor confidence in the token.

ETFSwap (ETFS)— The Latest Altcoin Investment With Vast Potential In The DeFi and ETF Market

For several months, ETFSwap (ETFS) has shown impressive performance recently, prompting growing interest in its potential to continue rising in value.

The best part about performing this activity on ETFSwap (ETFS) is being able to onboard the platform without any KYC checks and a free ETF market accessible round-the-clock. ETFSwap (ETFS) further emphasizes its pros as an ETF trading platform by linking all of its ETFs to Real-World Assets (RWA) while protecting them by partnering with MiCA-compliant licensed banks.

Following the announcement of a beta platform soon, investors are more eager to explore this unique altcoin project. The surging interest is evident in its crypto presale which has already accumulated nearly $5 million after selling over 600 million tokens. Its upcoming beta platform is receiving huge hype as the platform will start allowing users to purchase and trade ETF while tracking their prices.

Another feature set up for users to explore in its beta platform include a staking mechanism for users to earn extra rewards. Users will also be able to access its liquidity pool, all in the phase 1 of the beta platform. Phase 2 will then offer AI-powered trading tools like the ETF screener and ETF filter, to assist users in coming up with better trading decisions after thorough analysis of market data.

ETFSwap’s platform is also getting more attention for its tightly secure ecosystem. Its platform has been audited to rid it of all smart contract compromises. This was done by CyberScope— a leading blockchain audit firm. In an extra effort to secure a transparent and trusted trading environment, ETFSwap (ETFS) has also completed a KYC verification with SolidProof.

Investors who have bought its presale are open to more benefits as the native ETFS token attracts privileges on the platform. For instance, ETFS token holders are able to access new ETF listings early, vote on how the platform operates, receive up to 36% passive income from its staking pool alongside monthly airdrops. Additionally, staking the ETFS token further attracts an 87% APR yield.

Conclusion

With the price of ETFSwap’s presale token jumping by 350% from its first presale, it is evident that the new altcoin has sustained significant interest so far. ETFSwap (ETFS) is even set for more gains as its beta platform lurks. As a result, investors are urged to invest in its ETFS token, which is priced at $0.0384, before further price takeoffs.

For more information about the ETFS Presale:

Visit ETFSwap Presale
Join The ETFSwap Community

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.

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