The daily chart shows that the price is still far away from the 50 day exponential moving average but if it rebounds successfully off the 38.2% fib retracement level, we could see it shoot towards the top of the descending triangle. It is important to note that Ripple (XRP) remains at risk of a major correction long term but short-term, it is primed for further upside against Bitcoin (BTC).The trend line resistance is yet to be broken but the price has been consolidating around the 50 week exponential moving average for the past few weeks. There is no reason to think that XRP/USD is about to start a new bullish cycle yet but if this trend line resistance is broken, a lot of retail investors will turn bullish again and will likely get trapped as the whales dump on them before the long awaited correction kicks in.
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However, following the whole ruckus in the market, major XRP transactions took place. An account identified as ‘Nexo’ transferred 15 million XRP worth $5,968,115 USD to Kraken’s exchange wallet.The hash rate of the transfer was noted to Following are the transaction details, After receiving 15 million XRP, Kraken’s XRP balance stands at 551.669 million and has activated 200 wallet addresses, while Nexo wallet activated by Binance holds 49.151 million in XRP. As large transactions with most major coins are on the rise, XRP’s price fell by 2.71% over the day and was valued at $0.4034.
XRP Price Analysis on 1st June 2019: Ripple (XRP) is the third-largest currency in the crypto market. The price of Ripple (XRP) is 0.436729 USD The ROI stands at 7,335.15%.Looking at the chart of Ripple (XRP), we can observe two tops are indicated at the price of $0.475 on 16th May and at $0.471 on 30th May 2019. As per the data, in the coming months, Ripple (XRP) will surely give huge dividends to the short term investors.
