- McCaleb declares his XRP sell-off does not influence the crypto market
- Ripple XRP price recovery facing major resistances
Ripple Latest Update – In a recent medium post from prominent blockchain observer Whale Alert, he reported that Stellar CTO Jed McCaleb sold off over 1 billion XRP between 2014 and 2019. The post also tried to check if McCaleb’s sale of XRP will influence the price of the digital asset. XRP News Now – Whale Alert stated that compared with other whole trade volumes daily, the amount McCaleb is selling seems trivial.
XRP (XRP) Price Today – XRP / USD
XRP Twitter – Commenting on this, McCaleb stated in a recent interview that it is odd that people are concerned in his recent token trading, mentioning that other people have also sold much more than him. He went thus:
“I have been transparent from the beginning. The market has known for years that I have been selling my XRP at a slow, steady rate. My investment decisions are not based on any desire to negatively impact other companies in this industry. I think the history to date shows there is no impact on the market, and I don’t see any reason why that will change.”
Ripple XRP price recovery facing major resistances
Ripple Price Today USD – XRP price began an upside move above the $0.2850 resistance level against the U.S dollar. Though XRP price is still encountering major resistance close to $0.3000 and $0.3080. XRP price is currently correcting higher from the $0.2677 swing low against the U.S dollar. There is currently a major bearish trendline establishing with resistance close to $0.3000 on the hourly chart of the XRP/USD pair.
XRP price update – XRP price even surged above the $0.2950 resistance level. Notably, there is a major bearish trend line establishing with resistance close to $0.300 on the hourly chart of the XRP/USD pair. Above the trend line, there is a major resistance establishing close to the $0.3070 and $0.3080 levels. XRP News Now – Also, the 50% Fib retracement level of the major decline from the $0.3470 high to $0.2677 low is also close to the $0.3080 area. Hence, a positive close above the $0.3080 resistance level is required for a firm surge in the forthcoming sessions. If there is a clear close above $0.3080 and $0.3100, there are possibilities of another XRP price rally towards the $0.3200 and $0.3320 levels.
XRP price prediction 2020 – Also, there are possibilities of another failure close to $0.3000 resistance level and the 100 hourly Simple Moving Average. If this happens, the XRP price might continue to trade lower towards the $0.2850 and $0.2800 levels. The major support level for XRP is still close to the $0.2650 level, beneath which XRP price could commence a firm decline towards the $0.2500 support level in the near term.
XRP News Now -The MACD for XRP/USD pair is gradually moving into the bullish zone, while the RSI for XRP/USD pair is just well above the 50 levels, with a bearish sign. The major resistance levels are $0.3000, $0.3070 and $0.3080, while the major support levels are $0.2850, $0.2800 and $0.2650.