66.3 Mln XRP Gets Moved as XRP Price Expected to Surge 4x by Top Trader

News
Mon, 05/11/2020 - 13:35
Yuri Molchan
Two major Asian exchanges move over 66 mln XRP between their wallets. Meanwhile XRP is floating at $0.19 and a prominent trader expects a 4x rise on XRP/BTC
Cover image via stock.adobe.com
Contents

After the recent setback of the Bitcoin price when the king crypto suddenly went down from slightly below $10,000 to the $8,600 zone, other cryptocurrencies also lost a great deal of their market value.

On May 10, the third biggest crypto XRP followed Bitcoin down the charts and moved from $0.21 to $0.19, trading in a range since then.

Still, interest in XRP remains high, and over the past twenty-four hours, two major exchanges – Bithumb and KuCoin, have moved 66.3 mln XRP.

Meanwhile, a top trader expects XRP to conduct a price movement that would result in a 4x rise.

$12,998,247 in XRP moved in South Korea and Singapore

South Korea is one of the largest global cryptocurrency markets which managed to avoid a crypto ban similar to that of China.

Cryptocurrency trading is well-developed there under the control of the authorities.

Over the past twenty-four hours, the XRPL Monitor Twitter bot has spotted 66.3 mln XRP transferred by the major South Korean exchange Bithumb and the Singapore-based platform KuCoin.

Image via Twitter

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Top trader expects XRP to surge 4x

Top cryptocurrency trader ‘DonAlt’ has shared his thoughts on the XRP price situation on the XRP/BTC chart.  

As per his tweet, he assumes XRP/BTC is likely to drop a little lower. The trader also believes that XRP will likely surge 2x from its current position or 4x if it first hits the bottom of the range.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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