- 140.4 Million XRP Tokens Moved From one Wallet To Another In South Korea
- Ripple Maintains the Support At $0.16 against the USD Amid Major XRP Transfer
Ripple News Today – Ripple XRP is the most controversial cryptocurrency in the market at this time. Almost every day, it trends in the cryptocurrency community for one reason or the other. If Ripple isn’t trending because of some scandal the company has found itself in, it’s trending because a significant amount of XRP tokens were moved from exchanges and wallets. Normally, when such transactions occur, the price of the token is affected. Today, XRP is trending in the cryptocurrency space because a significant amount of XRP was moved and people are wondering what the transaction represents.
XRP News Today – 140.4 Million XRP Moved In South Korea and Japan
Within the last 24 hours, cryptocurrency exchanges and unknown wallets in South Korea and Japan have moved a sum of 140.4 for reasons that have not yet been revealed. This is equivalent to $24,247.080. The transaction took place in batches over the last 24 hours and the primary exchanges involved are Coinone, Bithumb, and Bitbank. With the Coronavirus scaring the world out of control, it is not a surprise that people would be looking for alternative mediums of exchange and stores of value.
Irrespective of the significant transfer of tokens which were initially spotted by XRPL Monitor, the price of XRP managed to maintain its stability at $0.16 where it has found strong support. There are several traders who believe that the XRP token is going to rise as high as $0.18 near-term. One of the prominent members of the XRP community, Alex Clay, said
“We completed all targets on the previous upward wave. Now, the price fixed above strong support, if price takes a correction to this support again we can take a long position if we see a confirmed breakout of the strong resistance we can take a long position too.”
At the time of writing, the price of XRP was $0.172782. This means that it is up by 2.08% against the USD and up by 3.34% against the price of BTC. It is recovering upward and will most likely maintain the positive price trend for the rest of the coming week. This would make it easy for the token to hit $0.18 soon. If the positive trend is maintained, higher highs will be achieved long-term.