Data shared by the Whale Alert crypto tracker shows that anonymous whales and Coinbase have transferred approximately 377.3 million XRP in the last 13 hours. The value of this huge amount of XRP is equal to $ 79,060,242.
Whale Alert has detected 18 XRP transactions in three blocks in the last 13 hours. Most of these transactions were made between Coinbase’s wallets. Details of the transfers came from the analysis website Bithomp. However, 60 million XRP has been moved from anonymous wallets to the largest US-based exchange in the last two transactions.
Coinbase is one of the major exchanges that recently announced plans to suspend XRP trading over a SEC lawsuit against Ripple. Earlier today, Bittrex was also reported to have joined other smaller exchanges that are planning to abolish XRP trading.
The aforementioned transactions were carried out when Ripple announced its willingness to cooperate with the new SEC chief Elad Roisman and his team. Roisman is a pro-crypto Republican who was appointed to the post last week. XRP showed signs of improvement yesterday when Ripple announced its willingness to collaborate with the regulator’s new leader. After this news on December 29, XRP increased by 15 percent. It dropped from $ 0.22 to $ 0.19 the same day, and then dropped to $ 0.17 for a short time.
The SEC’s lawsuit, which accused Ripple of selling “unregistered securities,” affected the XRP price, among other negative consequences. Currently, XRP is in fourth place on the CoinMarketCap crypto list, and Tether’s USDT is in third place. At the moment of the press, XRP is being traded at $ 0.21.
Despite the recovery, the short-term trend is still showing that it is in a deep decline, which means the price may continue to fall. Cryptocurrency companies are continuing to remove XRP or suspend XRP trading. Technically speaking, the price fell below $ 0.22, the old channel support that has limited XRP’s decline since the end of July. If the price cannot move above this area, the XRP drop could psychologically drop to $ 0.2 and $ 0.175.
On the upside, the token needs to recover from $ 0.25 above the weekly EMA50 to alleviate the sudden bearish pressure and allow further recovery towards the daily EMA200 of $ 0.295 and the $ 0.32 channel resistance. The critical bullish target is seen at $ 0.45. But at least, this level is unattainable until Ripple resolves its legal dispute with the SEC.
Finally, as we reported earlier today, legal representatives of the SEC and Ripple are expected to attend the first pre-trial conference on February 22, 2021. Due to pandemic restrictions, the event will take place over the phone.