Ripple News Today – Whale Alert Announces the Transfer of 31 Million XRP Token to Bitstamp

XRP price prediction
  • Is Ripple XRP Dumping again?
  • Ripple XRP community reaction to Ripple dumping
  • Ripple XRP price could commence a short term correction
  • Ripple XRP Price testing the major support level 

Ripple Latest Update – A recent tweet by Whale Alert reported the transfer of 31,300,000 XRP tokens to Bitstamp exchange from an anonymous wallet. This particular wallet has sold millions of XRP token in the past, which is received from a recognized Ripple wallet.

Ripple community reaction to Ripple dumping

Ripple News Update – regardless of the opposition from the XRPcomunity, it seems Ripple might be taking advantage of the new surge in XRP prices and continuing their sales of the international payment token. The member of the Ripple community has threatened a fork of the asset’s code base over Ripple dumping.

XRP price could commence a short term correction

XRP price prediction 2020 – XRP price failed to maintain its momentum above the $0.2740 support level and extended its decline against the U.S dollar. XRP News Now – XRP price is currently testing the major $0.2650 support level and it has the chance to correct higher. XRP Prediction 2020 – XRP price is down by 3% and it traded beneath the $0.2740 support level against the U.S dollar.

XRP Price testing the major support level

XRP Price Prediction – after XRP price failed to clear the $0.2850 resistance level, it commenced a new decline. XRP price traded beneath many support levels, including $0.2800, $0.2740 and the 100 hourly simple moving average. XRP News Now – during the price decline, there was a break beneath the major bullish trendline at $0.2765 and a bearish persistent pattern with support level close to $0.2720 on the hourly chart of the XRP/USD pair.

XRP Price Forecast 2020 – Ripple XRP Price Forecast 2020 

XRP Prediction 2020 – On the upside, there are a few major resistance pending close to the $0.2710 level. the next major resistance on the upside is close to the $0.2740 level, which was the previous support level and the 100 hourly simple moving average. Moreover, the 50% Fib retracement level of the new decline from $0.2852 high to $0.2638 low is close to the $0.2745 to serve as resistance.

XRP News Now – On the downside, there is key support establishing close to the $0.2650 level. As long as XRP price is trading above $0.2650, there are possibilities of a short term correction. XRP News Now – Nonetheless, XRP bulls might struggle close to the $0.2740 level and the 100 hourly simple moving average.

XRP (XRP) Price Today – XRP / USD

NamePrice24H %
ripple
XRP(XRP)
$0.482
-28.79%

XRP News Now – if XRP price fails to correct above the $0.2710 and $0.2740 resistance level, it could prolong its price decline. The major support level is close to the $0.2650 level. XRP Prediction 2020 – a positive close beneath the $0.2650 level might commence a strong slide in the near term.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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