Ripple and a major South-Korean exchange moved almost 56 million XRP, meanwhile, XRP price is likely heading for $0.28

By Selena On Apr 27, 2020

According to XRPL Monitor, over 55 million XRP was transferred. Part of it (8 million XRP) was sent between Ripple wallets that appear to be anonymous. 42 million XRP was transferred between Bithumb’s XRP wallets. 5.8 mln XRP was sent from UpBit to Bittrex. Even after 94% crash, analyst warns XRP price may not ever rally again.

Transaction Type: Payment
Amount: 32,000,000 XRP
Fee: 10 drops (0.00001 XRP)
Sender: bithumb
Sender Balance: 287,044,002.790451
Receiver: rMa2gKSPbDHanFefkaFabY9Ytk1U4a6hpZ
Receiver Balance: 68,857,977.994868
Link: https://t.co/EidSqtUGG5

— XRPL Monitor (@XRPL_Monitor) April 27, 2020

Transaction Type: Payment
Amount: 8,000,000 XRP
Fee: 12 drops (0.000012 XRP)
Sender: rpAFjo8jnzEbQ5cJ6b6efJiMKVV6Tj4xBJ
Sender Balance: 20.485748
Receiver: rGL1fQesk32MYsHETYeaUvYffdBjcbABSo
Receiver Balance: 9,663,683.402907
Link: https://t.co/0XPMmaTmT5

— XRPL Monitor (@XRPL_Monitor) April 27, 2020

Transaction Type: Payment
Amount: 10,000,000 XRP
Fee: 10 drops (0.00001 XRP)
Sender: rMa2gKSPbDHanFefkaFabY9Ytk1U4a6hpZ
Sender Balance: 36,857,976.994868
Receiver: rsdd66csGZkTzk42NDpJun7PNrGsC7WJHv
Receiver Balance: 10,001,203.529163
Link: https://t.co/oEbspw3yFq

— XRPL Monitor (@XRPL_Monitor) April 27, 2020

Transaction Type: Payment
Amount: 5,800,000 XRP
Fee: 10 drops (0.00001 XRP)
Sender: rEahGW5VLYQH2vGBfFmbv9BBpWSTDoukGR
Sender Balance: 1,145,487,291.41961
Receiver: raQwCVAJVqjrVm1Nj5SFRcX8i22BhdC9WA
Receiver Balance: 5,905,501.992709
Link: https://t.co/aF0sdi87Vw

— XRPL Monitor (@XRPL_Monitor) April 27, 2020

Ripple and a major South-Korean exchange have moved almost 56 million XRP

The trader who goes by the name ‘strictly’ has shared his XRP price prediction on TradingView. He is considering two possible scenarios, believing that XPP will start rising to a high of $ 0.28 or will begin to fall to $ 0.142.

Source: XRP Upate

He said:

“I have more respect for other traders, especially on Twitter, that flip flop their calls frequently because they are always looking both ways! IMO, the analysts that are only seeing the price in one direction, are dangerous (REKT)!!!”

Trader ‘David_Smith’ is also looking at two scenarios. However, his expectations towards the XRP price in the near future are different.

He said:

“One more retest of the Channel’s resistance will come in case we break the higher boundary of the current range we formed above the midline. Downward breakout of the range will lead to the retest of the midline and if we lose the midline then it’s expected to be a retest of the lower boundary of the channel.”

Source: David_Smith

XRP price might end up like other “promising tech” assets

The reason why so many traders still believe that XRP will increase thousands of percent in the future is that they think that cryptocurrencies are determined based on promising technology.

Although this may be true, a pseudonymous derivatives trader with the moniker “Cantering Clark” said:

“This doesn’t mean it will rally in the future, sharing the charts of assets that had “promising tech” but failed to ever rally after their initial market cycle.”

In short, these assets are dead, despite the promising technological developments their founders promised.

Referencing how the charts below look like XRP, Cantering Clark wrote:

“Here are just a few of the hundreds of 10-year charts you can find for ‘promising tech’. See a similarity? Many of these same charts have forums of people still talking about the recovery to come.”

The trader continued that from how he sees it, those still clutching onto a hope that XRP will rally have become subject to the “spell of cognitive biases” due to their emotional attachment to their investment in the cryptocurrency.

Not only Cantering Clark but also recently tried to flush cold water on the ever-bullish group of XRP investors.

Prior to the fall of the cryptocurrency in March, Peter Brandt – a veteran commodities trader and long-term Bitcoin bull – commented that:

“XRP’s chart is currently looking extremely bearish from a macro perspective because there is only “white space below” its price, with little historical support or liquidity.”

I am breaking a promise.

I said I would never again post a chart of $XRP

But, I thought you all might be interested in what it means to have …

“While space below” pic.twitter.com/Pse2DkEXfp

— Peter Brandt (@PeterLBrandt) March 12, 2020

While Brandt didn’t convey a prediction for XRP in accompaniment with the chart, many took this as a sign that he sees the cryptocurrency falling to a price in the single-digit cents, and maybe even lower, if selling pressure persists.

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