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Simon Chandler
Author
Simon Chandler
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XRP has dipped by 0.2% in the past 24 hours, slipping to $0.5895 as the cryptocurrency market barely moves today.
The alt remains up by a modest 1% in a week and by 9.5% in a fortnight, with these percentages coming in the context of increasing transfers of XRP to exchanges.
According to CryptoQuant data, traders have transferred 43 million XRP to Binance in the past couple of weeks, worth around $23.4 million.
This suggests that whales are still likelier to sell XRP at the moment than to buy it, meaning we may have to weather a few more dips before the cryptocurrency enjoyed a sustained renewal.
XRP Whales Trigger Worry With $23.4M Token Shift – Is a Sell-off Coming?
The aforementioned data shows that, on September 10, Binance held 2.941 billion XRP on behalf of its customers.
However, today it holds around 2.986 billion XRP, with this transfer happening during a period of growth for the XRP price.
While this would suggest that a selloff may be coming soon, it also shows how transfers to exchanges don’t result in immediate dips, given that the XRP price has risen by 9.5% in the last 14 days.
In fact, if you were to zoom out on this chart you would see that Binance’s reserve of XRP is still down on its 2024 high of 3.14 billion XRP, which it reached in March, when the coin rose as high as $0.719.
As such, it would be perhaps too negative to assume that we’ll see a big drop soon, especially when the altcoin’s circulating supply currently amounts to 56.505 billion.
Indeed, XRP’s chart continues to look promising, with its indicators currently on an upwards trajectory.
For instance, its relative strength index (purple) has jumped this morning from a low 30, rising above 50 and still showing some momentum.
Its 30-period moving average (orange) has also very recently bounced up from its 200-period average (blue), again suggesting that we may see a rally after today’s minor dip plays out.
It’s also positive that XRP’s 24-hour trading volume remains above $1 billion, indicating sustained interest in the coin.
When combined with the two major fundamental currents affecting the token – wider market positivity and Ripple’s renewed expansion – we should expect XRP to have a strong end to the year.
It may reach $0.60 in the next couple of weeks and potentially end the year at $0.80.
Presale Tokens Offer Quick Above-Average Gains
XRP is likely to remain one of the biggest tokens in the market for a long time, but its progress may be steady rather than spectacular.
If so, traders may be better off investigating newer tokens which can often outpace the market, including some of the more promising presale coins.
One of the hottest of these right now is DICE, the Solana-based native token of online casino Mega Dice, which has now raised over $1.8 million.
Launched last year, Mega Dice is already one of crypto’s biggest casinos, providing over 4,500 games and a competitive sportsbook.
Its status within the cryptocurrency gambling sector has clearly boosted the presale for DICE, which will provide holders with numerous benefits.
Not only is it the payment token for Mega Dice’s platform, but it will give owners access to exclusive games and bonuses.
It has a max supply of 420 million tokens, with a percentage of this being distributed via a post-presale airdrop worth $2.25 million.
It’s exciting to note the size of Mega Dice’s community, with the platform having over 14,000 members on Telegram and more than 27,000 on X.
Investors can join its sale by going to the Mega Dice website, where DICE currently sells at $0.116056 per token.
Early signs would suggest that it will rise much higher than this once it lists in the next couple of months.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
