The post XRP Price At Risk As Ripple Moves $250M? appeared on BitcoinEthereumNews.com.

The XRP price has come under the spotlight following Ripple’s recent $250 million XRP transfer. This comes amid bullish predictions for the coin, with analysts saying that its price could enjoy a parabolic rally following Donald Trump’s win. The XRP Price At Risk With Ripple’s $250 Million Transfer The XRP price is at risk of a decline following Ripple’s transfer of $250 million worth of XRP to an unknown wallet. Onchain data shows that the crypto firm transferred 470 million XRP to this wallet (rP4X2…sKxv3). This unknown wallet has since transferred 100 million XRP to another wallet (rhWt2…E32hk). The purpose of the $250 million transfer remains unclear. However, it could relate to Ripple’s On-Demand Liquidity (ODL) services or the ongoing SEC appeal case. This development comes just a day after XRP whales moved $814 million, indicating whale accumulation. While the Ripple transfer is unlikely to impact the XRP price since it will likely be done over the counter (OTC) if it is a potential sale, it could still create a bearish sentiment among XRP investors. However, crypto analysts are confident that XRP is currently in bullish territory following Donald Trump’s win in the US presidential elections. The coin could surge up to 3,336% as crypto analyst StephIsCrypto predicted a major above $2 following Trump’s victory. A Price Surge Above $20 By Year-End In an X post, Crypto analyst Amonyx made a bold prediction, stating that the XRP price will rise above $20 by year-end. In another X post, the analyst suggested that he was confident that this price surge would happen with the US SEC chair Gary Gensler set to be removed following Donald Trump’s victory. Gensler’s removal is bullish for the XRP price because he has spearheaded the long-running legal battle against Ripple. The legal battle could have negatively…

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Filed under: News - @ November 7, 2024 1:03 am