{"id":40977,"date":"2025-02-02T05:56:09","date_gmt":"2025-02-02T05:56:09","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=40977"},"modified":"2025-02-02T05:56:09","modified_gmt":"2025-02-02T05:56:09","slug":"why-did-ripples-xrp-price-tumble-by-8-daily","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=40977","title":{"rendered":"Why Did Ripple\u2019s (XRP) Price Tumble by 8% Daily?"},"content":{"rendered":"

TL:DR;<\/strong><\/p>\n

The entire crypto market turned red on Sunday morning, but some altcoins were hit harder than others.
\nXRP\u2019s price decline came just hours after a warning by a popular analyst that whales have started to sell off their holdings.<\/p>\n

<\/a>XRPUSD. Source: TradingView<\/p>\n

The third-largest cryptocurrency failed to go into uncharted territory a few weeks back, and it was stopped 1% away<\/a> from its 2018 all-time high of $3.4 (CoinGecko data). Since then, the asset has failed to resume its rally and actually slipped to $2.8 during the Monday correction.<\/p>\n

Nevertheless, it turned the tables during the business week by reclaiming the coveted $3 line. Moreover, it jumped to a weekly high of $3.15 on Friday, but its progress was halted at that point.<\/p>\n

It started to lose value gradually over the weekend but slumped hard in the past 12 hours or so alongside bitcoin and the rest of the alts<\/a>. Its price fell to a 6-day low of $2.82, thus dropping by more than 8% on a daily scale from top to bottom.<\/p>\n

Despite recovering some ground to almost $2.9 now, XRP is still over 5% down on the day. This correction for the cross-border token comes not only with the rest of the market but also following a strategy reversal by whales.<\/p>\n

These large market participants were among the biggest propellers of XRP\u2019s surge since the elections by accumulating billions of dollars<\/a> worth of the asset within months. Now, though, Ali Martinez showed that they have changed their tune and actually offloaded $70 million worth of XRP within a few days.<\/p>\n

Whales are particularly important to the overall market movements as they have the ability to move it with their large purchases or sell-offs.<\/p>\n

Whales have offloaded over 70 million $XRP<\/a> in the past 96 hours! pic.twitter.com\/qEe56f4Ujt<\/a><\/p>\n

\u2014 Ali (@ali_charts) February 1, 2025<\/a><\/p>\n\n

The post Why Did Ripple\u2019s (XRP) Price Tumble by 8% Daily?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL:DR; The entire crypto market turned red on Sunday morning, but some altcoins were hit harder than others. XRP\u2019s price decline came just hours after a warning by a popular analyst that whales have started to sell off their holdings. XRPUSD. Source: TradingView The third-largest cryptocurrency failed to go into uncharted territory a few weeks […]<\/p>\n","protected":false},"author":0,"featured_media":40978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-40977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/40977"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40977"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/40977\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/40978"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}