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Ripple Unlocks Another 100M From Escrow Wallet

A huge sell-off for XRP is coming - Ripple is currently facing a selling pressure and it is expected that XRP may soon face a massive sell-off due to a huge release by Ripple from its escrow wallet.

According to the report of Whale Alert, Ripple has unlocked another 100M worth $27.9 million from its escrow wallet.

Fear of sell-off among XRP holders

Ripple’s this move shocked the community and the reactions from the community members and Twitter users were negative. It has created the fear of sell-off among the XRP holders. Token holders have angered because this development by Ripple signals a strong bearish trend for the coin ahead.

This was the additional 100M tokens that Ripple has unlocked because Ripple has already set an amount of 1 billion that it releases at the beginning of every month. However, this huge unlock could harm the price value of the coin in the upcoming days.

XRP/USD needs to remain above SMA50 1H to stay bullish

Recently, XRP went back from its high of $0.2878 to $0.2830. However, the token is currently standing above SMA50 1-hour holding itself above the $0.28 mark.

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XRP/USD needs to remain above SMA50 1-hour in order to stay bullish because XRP/USD is currently in the technically difficult situation. If XRP goes below SMA50 1-hour then it will start moving towards $0.27 level and below this level, SMA100 1-hour is present. Ripple could lose its bullish behavior if it reaches $0.26.

Therefore, Ripple (XRP) needs to trade above SMA50 1-hour by holding above the $0.28 mark. Users are expecting Ripple to cross the psychological level of $0.30 in order to start massive bullish action.

Ripple has been trading bullish for a while and now its recent move of 100M token release is threatening its price value and XRP could turn bearish in the near future. Token holders’ fear shows that a huge sell-off for XRP is coming. produces top quality content exposure for cryptocurrency and blockchain companies and startups. We have provided brand exposure for thousands of companies to date and you can be one of them too! All of our clients appreciate our value / pricing ratio. Contact us if you have any questions: Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

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Bentley Kapoor (India)

Bentley is a cryptocurrency enthusiast and trader, his articles are news and platform review based. His writings are brought to you through his 10 years of experience in the cryptocurrency markets.

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