• 29 May, 2024
News

Dark Defender’s XRP Analysis: A Bullish Outlook and Market Movements

In a recent surge of activity on Twitter, prominent XRP analyst Dark Defender has shared a bullish forecast for XRP, predicting a significant price break in the coming hours. This announcement comes on the heels of XRP closing above the weekly clouds and the Exponential Moving Averages (EMAs) drawing very close to each other, reminiscent of the market conditions before the 2017 Bull Run.

Other technical indicators like the Relative Strength Index (RSI) point towards the 70 level, often denoting an overbought condition and strong bullish momentum. This collection of positive indicators has led him to predict that XRP is poised to break the $0.5286 mark in the coming hours. This forecast has garnered significant attention and anticipation within the XRP community.

During this press, XRP is trading at $0.531410, experiencing a 2.61% increase in the last 24 hours. Its trading volume stands at $961,635,963. With a live market cap of $28,399,077,498, XRP positions #5 on CoinMarketCap. The circulating supply is reportedly 53,441,027,384 XRP coins out of a maximum supply of 100,000,000,000 XRP coins.

In a related report, almost 500 million XRP tokens have been transferred, with Whale Alert tracking two major transactions. The first involved an impressive 412,334,412 XRP moving between anonymous wallets, valued at $213,373,038 at the time of the transaction. 

The second transfer saw 26,500,000 XRP, worth $13,807,682, moved to Bitstamp, a crypto trading venue. This latter transfer has been linked to Ripple Labs, the San Francisco-based blockchain giant, as part of their regular XRP movement.

In another related report in the XRP realm, a contentious exchange has unfolded between the XRP community and Charles Gasparino, a journalist with Fox Business. The feud centers around accusations related to Jay Clayton, the former SEC Chair responsible for initiating the lawsuit against Ripple. Gasparino, responding to conspiracy theories linking Fox Business to Clayton, has dismissed the allegations as “idiotic,” stating they lack any basis and do not merit a legal response.

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