- XRP worth had a big spike however plummeted throughout the subsequent few hours.
- Coinbase has introduced it can droop XRP buying and selling on January 19.
XRP was hit arduous when the SEC determined to sue Ripple. Since then, the digital asset has crashed and misplaced near 60% of its worth. A number of outstanding exchanges introduced they might halt XRP buying and selling on their platforms together with Coinbase. On January 19, one of many largest cryptocurrency exchanges on the earth, Coinbase, suspended XRP buying and selling.
XRP worth may very well be poised for one more leg down
Previously two weeks, the buying and selling quantity of XRP plummeted and the digital asset has been buying and selling sideways. Surprisingly, XRP price noticed a big spike from $0.289 to $0.33 however crashed shortly after.
XRP/USD 4-hour chart
The digital asset is presently buying and selling at $0.30 and the TD Sequential indicator offered a promote sign on the 4-hour chart which appears to be getting some bearish continuation. The subsequent worth goal could be $0.28 the place the 100-SMA and the 50-SMA converge.
XRP Holders Distribution chart
Moreover, the variety of whales holding no less than 10,000,000 XRP has declined even farther from a excessive of 356 holders on December 25, 2020, to 300 presently. This metric reveals that enormous buyers are getting out of their XRP positions.