{"id":598502,"date":"2024-03-19T01:00:15","date_gmt":"2024-03-19T01:00:15","guid":{"rendered":"https:\/\/ktsl888.com\/?p=598502"},"modified":"2024-06-11T08:09:15","modified_gmt":"2024-06-11T08:09:15","slug":"ripple-behind-xrp-price-crash","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ripple\/ripple-behind-xrp-price-crash\/","title":{"rendered":"Is Ripple Behind The XRP Price Crash? Massive Selling Spree Sparks Concern"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Ripple\u2019s occasional sale of XRP tokens has always been pinpointed as one reason for <\/span><a href=\"https:\/\/bitcoinist.com\/xrp-price-action-legal-expert\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">XRP\u2019s tepid price action<\/span><\/a><span style=\"font-weight: 400\">. Once again, the crypto firm\u2019s recent offloading of a significant amount of XRP has raised concerns <\/span><a href=\"https:\/\/bitcoinist.com\/xrp-will-remain-flat-even-if-bitcoin-roars\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">about its negative effect<\/span><\/a><span style=\"font-weight: 400\"> on the crypto token.\u00a0<\/span><\/p>\n<h2>Ripple Offloads 240 Million XRP<\/h2>\n<p><a href=\"https:\/\/xrpscan.com\/account\/rBg2FuZT91C52Nny68houguJ4vt5x1o91m\" rel=\"nofollow\"><span style=\"font-weight: 400\">On-chain data<\/span><\/a><span style=\"font-weight: 400\"> shows that Ripple transferred a total of 240 million XRP tokens to an unknown address in two separate transactions. The first transaction occurred on March 5, when it sent 100 million XRP to the address in question. Then, on March 13, the Ripple wallet again transferred 140 million XRP to this address.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-headed-for-150000\/\">Bernstein Analysts Convinced Bitcoin Is Headed For $150,000, Here\u2019s Why<\/a><\/div>\n<p><span style=\"font-weight: 400\">These transactions have raised eyebrows, and members of the <\/span><a href=\"https:\/\/bitcoinist.com\/ripple-cto-burn-xrp-holdings\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">XRP community<\/span><\/a><span style=\"font-weight: 400\"> are contemplating whether these sales might have been the reason XRP\u2019s price crashed recently. Notably, <\/span><a href=\"https:\/\/ktsl888.com\/analysis\/xrp\/xrp-is-primed-for-growth\/\"><span style=\"font-weight: 400\">the crypto token rose<\/span><\/a><span style=\"font-weight: 400\"> to as high as $0.74 on March 11 before seeing a sharp correction.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">It is worth mentioning that <\/span><a href=\"https:\/\/bitcoinist.com\/xrp-price-to-hit-3-4-crypto-expert-reveals-when\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">XRP\u2019s price<\/span><\/a><span style=\"font-weight: 400\"> crashed on March 5, the day the first transaction was carried out. Data from CoinMarketCap shows that the crypto token, which was trading as high as $0.65 on the day, dropped to as low as $0.55 on the same day. However, it remains uncertain whether or not Ripple\u2019s action was directly responsible for this price dip.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, <\/span><a href=\"https:\/\/bitcoinist.com\/39000-xrp-price-to-hit-220\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">XRP\u2019s price<\/span><\/a><span style=\"font-weight: 400\"> was pretty stable on the day the second transaction occurred, although it was still declining from its weekly high of $0.7, recorded on March 11. The impact of <\/span><a href=\"https:\/\/ktsl888.com\/analysis\/xrp\/ripple-xrp-sales-jump-in-2023\/\"><span style=\"font-weight: 400\">Ripple\u2019s XRP sales<\/span><\/a><span style=\"font-weight: 400\"> on the market continues to be heavily debated among those in the<\/span><a href=\"https:\/\/bitcoinist.com\/xrps-underperformance-ruffles-feathers-as-community-asks-ripple-to-do-something-about-price\/\" rel=\"nofollow\"><span style=\"font-weight: 400\"> XRP community<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Pro-XRP crypto YouTuber Jerry Hall <\/span><a href=\"https:\/\/bitcoinist.com\/crypto-expert-xrp-price-suppressed\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">previously claimed<\/span><\/a><span style=\"font-weight: 400\"> that Ripple was suppressing XRP\u2019s price with its monthly sales. However, there has also been a <\/span><a href=\"https:\/\/blockworks.co\/news\/ripple-xrp-sec-lawsuit#\" rel=\"nofollow\"><span style=\"font-weight: 400\">report<\/span><\/a><span style=\"font-weight: 400\"> that Ripple\u2019s sale doesn\u2019t impact prices on crypto exchanges.\u00a0<\/span><\/p>\n<h2>If Not Ripple, Then Who?<\/h2>\n<p><span style=\"font-weight: 400\">Ripple\u2019s price action defies logic, especially considering that the <\/span><a href=\"https:\/\/bitcoinist.com\/ripple-ceo-success-for-xrp\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">token\u2019s fundamentals <\/span><\/a><span style=\"font-weight: 400\">and <\/span><a href=\"https:\/\/bitcoinist.com\/parabolic-breakout-xrp-price\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">technical analysis<\/span><\/a><span style=\"font-weight: 400\"> suggest it is well primed for a parabolic move. That is why talks about possible market manipulation continue to persist. It is also understandable that all fingers instantly point to Ripple since they are the <\/span><a href=\"https:\/\/bitcoinist.com\/top-10-xrp-wallets-11-supply\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">largest XRP holders<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/shiba-inu\/crypto-analyst-shiba-inu-target\/\">Crypto Analyst Predicts Further Upside For Shiba Inu, Here\u2019s The Target<\/a><\/div>\n<p><span style=\"font-weight: 400\">However, if Ripple is indeed not responsible for <\/span><a href=\"https:\/\/bitcoinist.com\/xrp-will-remain-flat-even-if-bitcoin-roars\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">XRP\u2019s stagnant price action<\/span><\/a><span style=\"font-weight: 400\">, then there needs to be another explanation for why XRP has continued to underperform. Although the crypto token has continued to rank in the top 10 largest crypto tokens by market cap, it is worth mentioning that it is one of few tokens that has a negative year-to-date (YTD) gain.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, XRP is trading at around $0.61, up in the last 24 hours according to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/xrp\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> from CoinMarketCap.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/QwaddBRd\/\" alt=\"XRP price chart from Tradingview.com (Ripple)\" width=\"3286\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">Token price at $0.6 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">XRPUSDT on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from BitIRA, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ripple\u2019s occasional sale of XRP tokens has always been pinpointed as one reason for XRP\u2019s tepid price action. Once again, the crypto firm\u2019s recent offloading of a significant amount of XRP has raised concerns about its negative effect on the crypto token.\u00a0 Ripple Offloads 240 Million XRP On-chain data shows that Ripple transferred a total of 240 million XRP tokens to an unknown address in two separate transactions. The first transaction occurred on March 5, when it sent 100 million XRP to the address in question. Then, on March 13, the Ripple wallet again transferred 140 million XRP to this address.\u00a0 Related Reading: Bernstein Analysts Convinced Bitcoin Is Headed For $150,000, Here\u2019s Why These transactions have raised eyebrows, and members of the XRP community are contemplating whether these sales might have been the reason XRP\u2019s price crashed recently. Notably, the crypto token rose to as high as $0.74 on March 11 before seeing a sharp correction.\u00a0 It is worth mentioning that XRP\u2019s price crashed on March 5, the day the first transaction was carried out. Data from CoinMarketCap shows that the crypto token, which was trading as high as $0.65 on the day, dropped to as low as $0.55 on the same day. However, it remains uncertain whether or not Ripple\u2019s action was directly responsible for this price dip. Meanwhile, XRP\u2019s price was pretty stable on the day the second transaction occurred, although it was still declining from its weekly high of $0.7, recorded on March 11. The impact of Ripple\u2019s XRP sales on the market continues to be heavily debated among those in the XRP community.\u00a0 Pro-XRP crypto YouTuber Jerry Hall previously claimed that Ripple was suppressing XRP\u2019s price with its monthly sales. However, there has also been a report that Ripple\u2019s sale doesn\u2019t impact prices on crypto exchanges.\u00a0 If Not Ripple, Then Who? Ripple\u2019s price action defies logic, especially considering that the token\u2019s fundamentals and technical analysis suggest it is well primed for a parabolic move. That is why talks about possible market manipulation continue to persist. It is also understandable that all fingers instantly point to Ripple since they are the largest XRP holders.\u00a0 Related Reading: Crypto Analyst Predicts Further Upside For Shiba Inu, Here\u2019s The Target However, if Ripple is indeed not responsible for XRP\u2019s stagnant price action, then there needs to be another explanation for why XRP has continued to underperform. Although the crypto token has continued to rank in the top 10 largest crypto tokens by market cap, it is worth mentioning that it is one of few tokens that has a negative year-to-date (YTD) gain.\u00a0 At the time of writing, XRP is trading at around $0.61, up in the last 24 hours according to data from CoinMarketCap.\u00a0 Token price at $0.6 | Source: XRPUSDT on Tradingview.com Featured image from BitIRA, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":598526,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[3680,17209,4531,91873,83637,13172,16289,10972,78763],"class_list":["post-598502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ripple","tag-ripple-news","tag-xrp","tag-xrp-listing","tag-xrp-news","tag-xrp-price","tag-xrp-price-prediction","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\n<title>Is Ripple Behind The XRP Price Crash? 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