XRP Coin Price Analysis: While the Altcoin Rising Again, This Movement of Whales Led to Speculation!
XRP coin , backed by Ripple Labs , has generated a flurry of interest among crypto market traders and investors today as it shows a significant recovery following the recent crypto market corrections. During this significant upward momentum of XRP, approximately 46 million tokens were shifted from decentralized exchanges to centralized exchanges (CEX) in the last 24 hours, raising concerns about XRP's price movements going forward.
Meanwhile, the SEC appealed to Judge Torres to uphold the final decision against Ripple in the XRP case, contributing to a mysterious market scenario for XRP. The Ripple-backed token traded fairly quietly right after the SEC entered a legal battle with XRP, leaving investors uneasy in the global crypto market.
XRP Coin Whale Activity Contrasts Price Action
According to data provided by Whale Alert, 46.25 million coins were transferred to CEXs Bitstamp and Bitso in two transactions made in the last 24 hours. In the first transaction, 24 million coins were transferred to Bitso, a CEX based in Mexico City, while in the other transaction, 22.25 million coins were transferred to Bitstamp, a CEX based in Luxembourg City.
Notably, both transfers were carried out by an unknown wallet address. Additionally, the same address transferred huge amounts of tokens to the same CEXs in the last few days.
This recurring event occurred shortly after Ripple acquired strategic stakes in the aforementioned CEXs, stirring speculation that the sale of the whale came as an effort to regulate the token's market supply.
Meanwhile, XRP was trading prominently in the green, contrasting the usual market sentiments of a price decline following a dump on CEXs. This appears to be due to many bullish market dynamics.
Ethereum Price Prediction Arrives from Artificial Intelligence: These Levels Are at the Door if the Ethereum ETF is Approved!
With the Bitcoin ETF witnessing a massive surge in inflows, pushing the price of the asset to an all-time high, expectations for the Ethereum ETF have also increased.
The value of Ethereum (ETH) has risen significantly thanks to increased interest around a potential Ethereum ETF, an increase in institutional investments, and community support. Bulls pushed the ETH price towards the $4,000 level, setting a new 52-week high and creating a strong bullish sentiment in the market.
ChatGPT's Predictions for Ethereum's ETF Rally
Ethereum's weekly price chart shows a significant uptrend recently amid expectations of the launch of an Ethereum ETF. Examining the Fibonacci retracement levels, it is predicted that Ethereum could move towards a target of $6,835. This seems in line with the growing excitement that ETF news could push Ethereum's price to new highs.
As Koinfinans.com reported, the AI model suggests that beyond this initial target, Ethereum may face psychological hurdles such as $7,000 and $8,000. However, with increasing institutional interest and potential capital inflows, Ethereum may be in a position to overcome these hurdles and reach all-time highs.
The cryptocurrency market eagerly awaits the launch of the Ethereum ETF, predicting a hopeful path ahead for the market's second-largest cryptocurrency. Increasing institutional acceptance, combined with the asset's solid fundamentals and the strength of the Ethereum ecosystem, has created a solid foundation for significant price gains.
As Ethereum stands on the brink of a potential ETF launch, the cryptocurrency market is buzzing with excitement and anticipation. With bulls pushing the ETH price towards $4,000 and ChatGPT predicting higher targets, the future looks quite bright for Ethereum and investors.