Unexpected Transfer from Ripple! Which Way Will XRP Price Go?

As reported by Kriptokoin.com, the recent large XRP transfers and legal battles of Ripple (XRP) continue to resonate in the market. In particular, the possibility of an appeal by the SEC makes Ripple's moves even more intriguing. Meanwhile, Ripple is making large XRP transfers that catch the attention of the community. Here are the details…

Ripple's Big Transfers

Whale reported that Ripple made a 200 million XRP transfer. This transfer is approximately worth 117.6 million dollars. The transaction was sent to a wallet thought to be associated with Ripple. This event has sparked a big debate in the community. Ripple had made a similar transaction a week ago.

These moves are increasing the speculations that question Ripple's relationship with this wallet. The reason for the transfer was not clearly stated. However, the timing has made many people think. Especially the increasing concerns about the SEC appeal have fueled these discussions.

Latest Status of XRP Price

After big transfers, XRP entered a downward trend in the market. Currently, the value of XRP has dropped to 0.592 dollars. Looking at the last 24 hours, the price has increased by 1.2%. However, in the last month, XRP has lost 3.42% of its value. XRP, which fell to 0.50 dollars on September 6th, recently reached 0.61 dollars. However, it subsequently dropped by 4.92%.

Although these declines continue, market sentiment is moving in a positive direction. XRP funding rates continue to remain positive. This indicates that long positions are seeing more demand compared to short positions. Market players believe that prices will rise again.

Investor Expectations

XRP's open position-weighted funding rate has also been positive for the past two weeks. This situation confirms that investors opening long positions are seeing more demand and expecting prices to rise. In the face of positive market signals, investors are cautiously maintaining their optimism.

The decreases in XRP price are being balanced with the positive market sentiment. If market expectations are met, the popular altcoin will retest the $0.61 resistance. However, if the bear market prevails, the price will pull back to $0.56. Therefore, altcoin investors should closely monitor the market. Ripple's large altcoin transfers and market movements are being carefully watched by investors. Positive market indicators are giving investors hope for the future. However, the possible appeal by the SEC may determine how this process will unfold.

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