Ever since the beginning of the year, XRP price has been having difficulty moving higher against the USD. It’s been a cause for concern for members of the XRP rich list and the XRP Army. This is because XRP news has been mostly positive over the last few months but this doesn’t seem to have any lasting effect on the price. When the price of Bitcoin and other cryptocurrencies were rising against the USD, the price of XRP was stuck in a descending trendline. It has been unable to retest the $0.38 resistance it initially tested and is struggling to stay above the $0.32 support level. Our XRP price prediction 2019 stated that the price of XRP will most likely fall by another 50% before rising higher against the USD. Now, the 100 million XRP token sell-off seems to have contributed to the negative XRP predictions.
XRP Price Prediction – XRP Price Prediction 2019 – XRP News Today – XRP Whale And Ripple Sell 100 Million In XRP
Ripple, the company behind the XRP token, controls more that 60% of the total XRP in circulation. From time to time, it sells some of the XRP tokens to institutional clients and uses the money to promote the development and growth of XRP, xRapid, and other xtech. Yesterday, they sold 20 million XRP tokens to a client through an OTC desk. This morning, an XRP whale sold 60 million in XRP to another whale. The two massive sell-offs within a short time seems to have contributed to the XRP price slump. Before Ripple made the sale a much higher amount of XRP was deposited into the Ripple Labs account in three batches.
At the time of writing, Bitcoin was trading at $5,336.21. This shows that it is up by 0.69% against the USD. The trading volume over a 24 hour period is $13,179,882,262 and the market capitalization is $94,216,258,016. Many other cryptocurrencies have also recorded major gains with BNB reaching a new 54-week high. However, XRP is trading in red against the USD. It is trading at $0.330300. This means that it is down by 0.62% against the USD and down by 1.24% against BTC. The trading volume over a 24 hour period is $894,807,289 and the market capitalization is $13,862,936,731. The next few days of trading will determine if the XRP price action will change or not. However, things aren’t looking too good for the XRP price prediction 2019.
XRP News Today – XRP Price Prediction – Current XRP Price Action May Be As A Result Of The Whale XRP Movement
According to XRPL monitor, the price of XRP is currently underperforming the market because of the sell-off. In fact, the 60 million XRP tokens were deliberately bought and sold to inflate the XRP trading volume and disrupt the price of XRP. Keep in mind that 60 million XRP tokens at current prices amounts to about $20 million. There is no way such a sell-off wouldn’t affect the price of XRP especially considering the fact that the Ripple Labs sold $7 million XRP tokens just a day before.
XRP (XRP) Price Today – XRP / USD
What do you think about the XRP news today? Will the XRP price prediction 2019 be influenced by the 100 million sell-off? Share your thoughts in the comment section.