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Whales Starting to Move Ethereum Assets

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  • Thomas Hughes
    📈 Price Predictions

    More than a quarter billion USD worth of Ether was transferred over the weekend in 21 separate transactions.

Whales Starting to Move Ethereum Assets
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

More than a quarter billion USD worth of Ether was transferred over the weekend in 21 separate transactions. The total amount adds up to more $273 million, with ten (10) of the largest transactions going from crypto exchange Bitfinex to an unknown address.

This could be due to Bitfinex’s scheduled maintenance and server upgrade, but I am sure the FUD spreaders will speculate about malicious intent. In the meantime, Ethereum is sitting at a comfortable 12% gain over the last 7 days, so it doesn’t seem affected that much.

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Currently trading at 153 against the US Dollar (aggregate price, CoinMarketCap), Ethereum has been one of the biggest gainers of the 2018 – 2019 switchover and is trading in an uptrend since reaching a low at $83 on Dec. 15, 2018.

Although the last month has been mostly bullish, Ethereum is still in a downtrend that started in January 2018, so don’t pop the champagne just yet, thinking it’s going to the Moon. The last few days the pair has traded just shy of 170 resistance, failing to threaten it, so it seems like upside action may need a retracement or at least that bullish pressure is dissipating.

Support zone: 50 EMA, 200 EMA, $130

Resistance zone: 170    

Most likely scenario: drop below 50 EMA (4-hour chart)

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About the author

Thomas Hughes is an executive editor of U.Today. He is a skilled cryptocurrency trader and technical analyst deeply immersed into the cryptocurrency & blockchain technology area.

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XRP Price Likely to Hit $0.56 in Early December, Crypto Trader Says

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  • Yuri Molchan
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    A crypto trader analyses a crucial fractal on the chart, saying that a possible outcome could be $0.56 for 1 XRP by early December

XRP Price Likely to Hit $0.56 in Early December, Crypto Trader Says
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Despite the active expansion of the Ripple ecosystem and signing up over 300 new customers on RippleNet this year, the XRP price remains below $0.3.

At press-time, XRP is declining by 2.85 percent and is exchanging hands at $0.24.

XRP price CMC
Image via CoinMarketCap

A win-or-bust XRP forecast

The community has been eager for the price to surge throughout 2019. On Wednesday, U.Today published a story with bullish forecasts regarding the price.

Today, a crypto trader @TheCryptHawk has shared a chart on his Twitter page. It shows a possibility of XRP surging to $0.56 in early December if the fractal depicted on the chart in in play.

If not, the trader says, the price may collapse to $0.17-$0.18 and then – down to $0.12.

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XRP below the $0.25 support

A short while ago, XRP dropped below the $0.25 support level, where the coin had not been in several months. This is happening despite the recent Swell conference, which was expected to push the coin’s price way upward.

The community was expecting a bull run, since last year in November, as many believe, Swell triggered it. As a result, in January 2018 XRP hit its all-time high of over nearly $4.

This year, the loyal XRP community expects a bull run every now and then but all those expectations are in vain so far. This seems strange to many, since Ripple has indeed expanded its network significantly and provided a lot of actual utility cases for XRP.

Optimists are buying on the dip while the price is low (same as many doing when the Bitcoin price drops), hoping to reap their profits later on when XRP skyrockets.

 

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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.

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