{"id":27214,"date":"2024-03-08T10:40:53","date_gmt":"2024-03-08T10:40:53","guid":{"rendered":"https:\/\/www.xtrememarkets.com\/?p=27214"},"modified":"2024-03-08T10:40:53","modified_gmt":"2024-03-08T10:40:53","slug":"xrp-poised-for-weekly-drop-as-investors-pocket-370-million-in-profits","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/US\/xrp-poised-for-weekly-drop-as-investors-pocket-370-million-in-profits\/","title":{"rendered":"XRP Poised for Weekly Drop as Investors Pocket $370 Million in Profits"},"content":{"rendered":"<h1><strong>XRP Poised for Weekly Drop as Investors Pocket $370 Million in Profits<\/strong><\/h1>\n<p><span style=\"font-weight: 400;\">The price of XRP, a popular altcoin, experienced a downturn, reaching $0.62 on Friday. Despite this drop, it managed to stay above the crucial $0.60 mark, a psychologically significant level for traders and investors. This recent price movement has been primarily attributed to increased profit-taking activities among XRP holders. Heading towards the week&#8217;s close, XRP seems poised to end with a slight loss, marking a mild correction following its recent price surge. This shift in market behavior comes just ahead of a significant event &#8211; the anticipated March 22 deadline in the ongoing SEC vs. Ripple lawsuit, a key factor influencing the altcoin&#8217;s <a href=\"https:\/\/www.xtrememarkets.com\/US\/markets\/\"><strong>market<\/strong><\/a> dynamics.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Since the beginning of March 2024, XRP holders have reportedly cashed out profits amounting to around $370 million. This substantial withdrawal of profits is one of the primary drivers behind the recent price adjustments. On-chain data provided by Santiment has highlighted consistent profit-taking by XRP holders throughout the month, especially notable as the altcoin reached its monthly peak of $0.6685 on Tuesday.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Further analysis reveals an uptick in on-chain activity for XRP. Notable metrics showing this increase include a rise in Active Addresses and a surge in large transactions, specifically those valued at $100,000 or higher. Both these indicators have witnessed significant growth over the past week. Generally, such an increase in active addresses and high-value transactions can signal either bullish or bearish trends for an asset&#8217;s price. However, in the context of XRP, the spike in transactions following its recent price rally suggests that larger investors or &#8216;whales&#8217; may be looking to capitalize on the higher rates to sell off their holdings and secure profits.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This pattern of whale behavior, coupled with the overarching climate of profit-taking among regular holders, paints a picture of a market in a state of flux. As XRP navigates through these changes, market watchers are closely monitoring the asset&#8217;s performance, particularly with the looming legal deadline in the SEC lawsuit which could have further implications for its price and investor sentiment.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>XRP Poised for Weekly Drop as Investors Pocket $370 Million in Profits The price of XRP, a popular altcoin, experienced a downturn, reaching $0.62 on Friday. Despite this drop, it managed to stay above the crucial $0.60 mark, a psychologically significant level for traders and investors. This recent price movement has been primarily attributed to<\/p>\n... <a href=\"https:\/\/www.xtrememarkets.com\/US\/xrp-poised-for-weekly-drop-as-investors-pocket-370-million-in-profits\/\">continue reading<\/a>.","protected":false},"author":1,"featured_media":27215,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[198],"tags":[168,19,217,157,162,392,22,201,2311],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>XRP Poised for Weekly Drop as Investors Pocket $370 Million in Profits<\/title>\r\n<meta name=\"description\" content=\"The price of XRP, a popular altcoin, experienced a downturn, reaching $0.62 on Friday. 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