Ripple Price Drops Alert as Whales Move Millions of XRP

The US Securities and Exchange Commission’s lawsuit against Ripple should be enough to stifle the rise of XRP, if for no other reason. But despite all of this, Ripple is continuing to hold its ground as it consolidates in a range between $0.4200 and $0.3000. The whales appear to be losing patience, though, as the case’s outcome is still up in the air. Several addresses have been sending XRP in bulk during the last few hours, according to WhaleAlert.

XRP has been transferred for around $147 million over the last day. The global cryptocurrency market is fairly negative, and while the majority of investors are patiently awaiting the final decision, this is likely to aggravate their frustrations and lead to them withdrawing from the market out of fear. XRPUSD may have a major crash without prior notice if more investors continue to pull out of the market.

Key XRP Levels To Watch – January 31

XRPUSD seems to be heading downward following the bounce off of the 0.4190 price level. At the optimal trading entry of the current trading range, there exists a bullish order block that will likely reject the market back to the upside.
Another reason for the correction to the downside could be the Stochastic indicator revealing that XRP was overbought. Should the price break the 0.4190 major resistance after hitting the bullish order block, XRPUSD might remain in an uptrend for a long time.

XRP Key Levels

Resistance Levels: $0.5590, $0.5100, $0.0.4190
Support Levels: $0.3000, $0.2350, $0.1690

Total Market Capitalization: $1.04T
XRP Market Capitalization: $20.57B
XRP Volume: $1.03B
Market Rank: #6

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