Ripple Releases XRP tokens worth $1 Billion, Up 13%
Ripple released many XRP tokens from its escrow on New Year's Day amid its monthly plan
Ripple released many XRP tokens from its escrow on New Year’s Day amid its monthly plan. Whale Alert data emphasized that Ripple released 500 million XRP from its escrow account for an unspecified location.
The unlocked tokens were worth over $1 billion. The token broke the $2.2 resistance line in the early hours of today amid high buying pressure.
The 500 million XRP unlock transaction was accompanied by a memo announcing that President-elect Donald Trump will be in the White House on January 20th. Trump’s arrival will “make crypto great again,” the author continued. The XRP community has been intrigued by this message, especially since it suggests that the year ahead will be bright for cryptocurrency in the United States. S. . with President Donald Trump in office.
According to data from Binance, the price of XRP, one of the largest cryptocurrencies by market capitalization, has increased by over 13% in the last day. It is one of the best-performing cryptocurrencies, outpacing the gains of significant altcoins like Ethereum (ETH).
Market expectations that the SEC will drop its appeal could help push the price back to $3. The token might also lose the $2 support line if short sellers gather momentum amid signs that the SEC will pursue the appeal.
This is a spectacular beginning for the Ripple base token that has dominated the fourth quarter of 2024. CoinGlass data shows that over $7 million worth of XRP shorts were liquidated in a single day. Almost 80% of the wipeout is caused by short positions.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
- Read our latest reviews on: Avatrade, Exness, HFM and XM
Related Articles
Sidebar rates
Related Posts
Save
