- XRP/USD runs below $0.30 amid bearish sentiments.
- The community is puzzled by a transaction with a mysterious message.
After a failed attempt to clear $0.3100 handle, XRP/USD slipped under $0.30 to trade at $0.2974 by the time of writing. The digital asset with a market value of $12.3B is consolidating with a bearish bias, down 1.3% on a day-over-day basis and mostly unchanged since the beginning of Tuesday.
Looking technically, XRP/USD is moving within a long-term triangle pattern with the lower boundary at $0.2850 creating strong support for the coin. If the price fails to regain $0.30 handle, the sell-off will continue towards the above-said critical level, where new buy-in interest is likely to appear.
On the upside, once above $0.30, XRP/USD may proceed to the psychological $0.31 and local resistance $0.3140 created by the lower border of the previous range. A sustainable move higher will bring $0.33 and the recent high of $0.3390 back in focus.
Mysterious transaction
It is worth noting that Ripple holds about 60% of the XRP issuance and now and then sells the tokens to cryptocurrency exchanges partner institutions and other interested parties.
The transaction is nothing new, as the company transferred significant amounts from its accounts on numerous occasions. However, the cryptocurrency community is intrigued with the message that accompanied the transaction. It said “Crawl… Walk… Run… ;)”. Whatever it might mean, it does look weird.
XRP/USD, 1-day chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Top 5 tokens trending alongside Bitcoin: ORDI, STX, LUNC, PEPE, CFX

Bitcoin price crossed the $41,400 level early on Tuesday. The largest cryptocurrency by market capitalization extended its gains and continued its rally, after yielding 12% weekly gains for holders.
There is a 25% probability of Solana flipping Ethereum: Santiago Santos

In a recent episode of the Empire podcast, Santiago Santos, former Partner at ParaFi Capital, shares his views on how Solana’s market capitalization could exceed Ethereum’s in the next market cycle.
Ripple transaction count exceeds 1.38 million, XRP price likely to extend gains

Ripple (XRP) remains a talking point among retail market participants that expect a settlement in the US Securities and Exchange Commission’s (SEC) lawsuit against the cross-border payment remittance firm.
Bitcoin price eyes $45,000 target ahead of BTC halving in April 2024

Bitcoin price crossed the $41,400 mark on Binance, in its ongoing uptrend, on December 5. BTC price rally is likely driven by the anticipation of Spot Bitcoin ETF approval. There are more catalysts driving BTC price gains in the current cycle.
Analyzing potential $30k corrections ahead of BTC ETF approval

Bitcoin has slowed down its 2023 bull rally as it approaches the $37,000 level. After three weeks of consolidating around this level, BTC shows no directional bias whatsoever. Some investors speculate this could be an upward-sloping accumulation that leads to a $40,000 rally.