% 0.42
BTC Dominance:
% 0.22
Market Cap:
$2.34 T
% 1.02
Fear & Greed:
63 / 100
$ 64.245
BTC Dominance:
% 54.0
Market Cap:
$2.34 T

Whale Activity Spurs XRP Transfers Amid Shiba Inu Dip


Josh Olszewicz, a well-known crypto-trader and analyst, mentioned the daily Tenkan/Kijun crossing of Bitcoin in a recent X post. The Tenkan Sen line is short-term support in an uptrend and resistance in a downtrend. The Kijun Sen line is a source of medium-term support. These lines being associated may provide traders with significant market tips. When Tenkan Sen moves below Kijun Sen, the market sentiment is bearish. Since the crossover happened under the Ichimoku cloud, this signal might not end the bull trend. On the other hand, Bitcoin is being traded at $61,891 against the dollar, and in 24 hours it has gone down to 2.87% losses, as per CoinMarketCap.

Shiba Inu Price Drop Threatens Bullish Momentum

The Shiba Inu price drop is a threat to its bullish momentum. Last week, the Shiba price hit $0.000028 before a correction. Shiba Inu price decline correlates with Bitcoin’s week low. The recent price action hinges on the bulls defending the 69 trillion Shiba  range despite the bearish pressure. Should Shiba bulls manage to sustain this important level, it could indicate strength and result in a bounce or rally. Nevertheless, bearish traders may argue that the current price level is not viable if the market fails to gain momentum. A lingering fall can cause panic and thus reduce the price of Shiba. Shiba has slid by 5.64% in the last 24 hours to $0.0000233.

74 Million XRP Was Impatiently Transferred to Wallets by Whales

XRP has witnessed a boost in the transactions of millions of tokens that are transferred to various wallets. In the last 24 hours, XRP has dropped by 1.25% to $0.5123, as have many other Cypto assets. Therefore, large XRP transfers signify whales buying the dip to profit from the market. Binance and Bitvavo shifted millions of XRP tokens to unknown wallets, which might be related to this strategic move. Whale Alert data tracker reported three huge trades of 74 million XRP: And 24,059,884 for the amount of $12,390,804; 26,336,059 for $13,563,030; and 24,118,600 at the cost of $12,461,230. Investors may be purchasing XRP coins at a low price due to the hike in whale activity.

READ:  Bitcoin vs. Solana vs. Shiba Inu: What You'd Have If You Invested $10,000 At The Beginning Of 2024


P.S This is not an investment advice

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