Sunday, 21 April 2024
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AltcoinsCrypto

Will April See a $2 XRP Price?

  • With a 24-hour trading volume of $3.22 billion, the price of XRP is $0.590015, April 3, 2024.
  • The total amount of XRP in circulation is now 54.94 billion, with an annual supply inflation rate of 9.32%.
  • XRP will ever hit $1 in April is dubious based on recent on-chain measurements and technical signs.

Due to whale activity and recent market dips, speculation around XRP, one of the top 10 cryptocurrency tokens, occurred on April 3.

A well-known whale sold 25 million XRP, raising questions among investors about possible future price swings of the Ripple-backed coin. This move added mystery to the token’s future trajectory.

XRP

With a 24-hour trading volume of $3.22 billion, the price of XRP is $0.590015, April 3, 2024. XRP has lost -1.68% in value in the last day, with a current market capitalization of 1.29%. January 4, 2018, saw XRP hit its highest price ever recorded, with a peak of $3.92 per token. The all-time low price of $0.002802 was reached on July 7, 2014, marking its lowest recorded price.

The total amount of XRP in circulation is now 54.94 billion, with an annual supply inflation rate of 9.32%. The maximum amount is 100.00 billion XRP.

According to statistics from Whale Alert, a notable XRP whale just sold Bitstamp, a Luxembourg City-based cryptocurrency exchange, 24.80 million coins worth $14.70 million. This trade took place during XRP’s drop below the $0.60 threshold, which made investors more pessimistic.

The likelihood that XRP will ever hit $1 in April is dubious based on recent on-chain measurements and technical signs. Recent market corrections caused setbacks for the bullish momentum that was expected for the cryptocurrency supported by Ripple. The uncertainty surrounding XRP’s future is increased by the US Securities and Exchange Commission’s (SEC) recent appeal of a final ruling regarding the continuing litigation against Ripple.

The recent events involving XRP, such as noteworthy whale behavior, frequent dumping to Bitstamp, and the ongoing SEC lawsuit, are probably going to have a big impact on the token’s price dynamics. Investors are feeling pessimistic after a whale sold 24.80 million XRP tokens to Bitstamp as the token was falling below the $0.60 mark.

To determine if XRP will hit $2 in April 2024, a thorough examination of all the variables influencing its price dynamics is necessary. The market capitalization of XRP indicates that it has considerable liquidity, which is a sign of possible price growth. It might, however, have trouble acquiring traction and falling behind popular cryptocurrencies like Ethereum and Bitcoin.

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