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400 Million XRP Unlocked From Escrow, XRP Reacts Unexpectedly. A whale transaction involving 400 million XRP, worth approximately $213.9 million, was unlocked from an escrow wallet. According to Whale Alert, the 400 million processed on the Ripple blockchain is between two unknown wallets. The transaction is creating a buzz in some quarters of the XRP community. Some consider this a dump while others see it as a signal of incoming inflation. Ripple's "lock" and "unlock" of escrow. As per the data shared by Whale Alert, the transaction had a nominal fee of 0.0001 XRP. The Ripple escrow system launched in December 2017, is a way to ensure predictability and stability of the XRP market while providing liquidity. On Friday, May 3, Ripple Labs shifted 800 million XRP into an escrow wallet to rebalance the circulating supply of the digital currency in three tranches. The lock-up did not result in the recovery of losses incurred in the previous week. Ripple's escrows typically unlock approximately 1 billion XRP each month, with any unspent portion returned to escrow. The unlocking of 400 million XRP is sparking speculation as to the XRP market trajectory in the coming days. Market response to 400 million XRP unlock. Despite the sizable unlock, the reaction within the XRP market has been relatively calm. Although large unlocks can lead to volatility due to increased liquidity and potential market speculation, at the time of writing, the XRP price as shown on CoinMarketCap reveals that XRP is up 1.9 3% at $0.5303. While the 400 million XRP unlock did not cause significant market turmoil, industry watchers advise investors to keep monitoring Ripple's escrow activity and its potential impact on the broader cryptocurrency market. The ongoing legal battles Ripple faces with the U.S. Securities and Exchange Commission (SEC) continues to trail the exchange. Ripple recently filed a crucial reply to the SEC's remedies briefing in April where the regulatory authority sought disgorgement of profits derived from XRP sales and civil penalties.

400 Million XRP Unlocked From Escrow, XRP Reacts Unexpectedly.

A whale transaction involving 400 million XRP, worth approximately $213.9 million, was unlocked from an escrow wallet.

According to Whale Alert, the 400 million processed on the Ripple blockchain is between two unknown wallets. The transaction is creating a buzz in some quarters of the XRP community. Some consider this a dump while others see it as a signal of incoming inflation.

Ripple's "lock" and "unlock" of escrow.

As per the data shared by Whale Alert, the transaction had a nominal fee of 0.0001 XRP. The Ripple escrow system launched in December 2017, is a way to ensure predictability and stability of the XRP market while providing liquidity.

On Friday, May 3, Ripple Labs shifted 800 million XRP into an escrow wallet to

rebalance the circulating supply of the digital currency in three tranches. The

lock-up did not result in the recovery of

losses incurred in the previous week.

Ripple's escrows typically unlock approximately 1 billion XRP each month, with any unspent portion returned to escrow. The unlocking of 400 million XRP is sparking speculation as to the XRP market trajectory in the coming days.

Market response to 400 million XRP unlock.

Despite the sizable unlock, the reaction within the XRP market has been relatively calm. Although large unlocks can lead to volatility due to increased liquidity and potential market speculation, at the time of writing, the XRP price as shown on CoinMarketCap reveals that XRP is up 1.9 3% at $0.5303.

While the 400 million XRP unlock did not cause significant market turmoil, industry watchers advise investors to keep monitoring Ripple's escrow activity and its potential impact on the broader cryptocurrency market.

The ongoing legal battles Ripple faces with the U.S. Securities and Exchange Commission (SEC) continues to trail the exchange. Ripple recently filed a crucial reply to the SEC's remedies briefing in April where the regulatory authority sought disgorgement of profits derived from XRP sales and civil penalties.

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Enormous 5.7 Trillion Shiba Inu (SHIB) in 24 Hours: What's Happening? Shiba Inu clearly seeing surge of transactional activity on current market, but there's still an issue. According to Shiba Inu's on-chain data, large transactions recorded have increased to 341 in the last 24 hours from 82 transactions at the week's low, implying a large increase in investors. The total volume of these large transactions amounts to 5.7 trillion SHIB, having reached the seven-day high of 8.97 trillion SHIB on May 16, 2024. There are a few reasons that this increased activity in big transactions may be taking place. Expectations over some major price action might have caused whales to reposition. Other than that, it could be strategic portfolio adjustments, new partnerships or ecosystem developments within the Shiba Inu project that have not been announced yet. According to the SHIB price chart, Shiba Inu is trading within an uptrend channel pattern, with the current price level at about $0.00002550. The 50-day exponential moving average is supporting the price, and the 200-day exponential moving average is closing in below the current price, indicating a generally medium- to long-term bullish trend. The Bollinger Bands are slightly expanding, indicating that volatility is starting to pick up and could very soon bring more substantial price moves. The Relative Strength Index stands at 54.79, showing that SHIB has not been oversold or overbought, hence, there could be a potential upward move. One way or another, the most likely reason behind the surge is lying beneath the upcoming surge of large transfers. Whales have the means to access pieces of information and resources that normal traders do not have, thus positioning themselves in anticipation of changes on the market. By doing so, the rise in activity on SHIB can be taken as an indication of their confidence about potential future gains from putting money into Shiba Inu.
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Ancient Dogecoin Whale Returns After 10.4 Years: What Did They Do Next? An ancient Dogecoin (DOGE) whale has reappeared on the cryptocurrency market after more than a decade hiatus, attracting a lot of attention from the community. According to Whale Alert, this whale, which owns an impressive 893,303 DOGE, valued at approximately $145,101, has initiated transactions for the first time since May 2014. The activation of this dormant account was triggered by the transfer of 23,338 DOGE, almost $4,000, to the world's largest cryptocurrency exchange, Binance. The move has sparked considerable speculation about the potential implications for the market, given the historical impact of similar events. For instance, the awakening of the oldest holders of cryptocurrencies has often led to changes on the market, as has been the case in past cases with participants in early ICOs, especially in Ethereum. The general consensus and expectation is that these crypto market participants often sell their holdings to take profits after a long period of inactivity. A recent transfer on Binance supports this view, suggesting that the whale may be preparing to liquidate some of its assets. Despite this significant transfer, this whale still owns over 869,964 DOGE, worth about $141,101. This significant stake continues to hang over the market, raising questions about future transactions and their potential influence on Dogecoin's price. While insignificant for market impact, the very nature of its actions may signal a shift in sentiment among "strong hands." This resurgence coincides with Dogecoin's recent rally, which has solidified its position as the eighth largest cryptocurrency by market capitalization. Each DOGE token currently has a value of $24.13 billion and a price of $0.167.
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Mysterious 240 Million XRP Transfer: Where Did It Go? In a striking development within the cryptocurrency market, an unusual transfer of 240 million XRP tokens was executed from the Coincheck exchange to an unknown wallet. This significant movement has sparked interest and speculation in the crypto community. Crypto data tracker Whale Alert reports, "240,850,537 XRP worth $127,054,365 was transferred from Coincheck to unknown wallet." This recent withdrawal of the massive amount of XRP tokens, valued at approximately $127 million, was directed to an unknown address, which was activated in February. The destination wallet "UQ2Eh" continuously receives XRP transfers from Coincheck, indicating a solid relationship with the exchange. The reasons behind this transfer and the identity of the wallet owner remain unknown, adding to the mystery surrounding the transaction. While the exact motives remain speculative, several potential reasons for the transfer have emerged: the transfer may have been made on behalf of an institutional investor. Institutions frequently transfer substantial amounts of cryptocurrency to cold storage wallets for security reasons or to represent a long-term holding strategy. Additionally, Coincheck may be transferring assets as part of enhanced security measures. After a major security incident in 2018, Coincheck has prioritized security, and moving funds to more secure storage solutions may be part of sustained efforts to safeguard assets. Third, the large transfer might be linked to an OTC trade, where substantial amounts of cryptocurrency are exchanged directly between parties. Whether this move signals institutional interest, enhanced security measures, or upcoming strategic announcements, might suggest interest in XRP and the broader cryptocurrency market. At the time of writing, XRP was down 0.60% in the last 24 hours to $0.529.
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Shiba Inu (SHIB) Breakout Fails, Here's What Comes Next. Shiba Inu (SHIB) has suffered a bearish breakdown after it failed to sustain its price growth in the past 24 hours. At the time of writing, Shiba Inu is down by 1.68% in 24 hours to $0.00002553. The SHIB breakdown is all-encompassing, with the 30-day slip hitting 4.44% as the token hovers from a low of $0.00002071 to a high of $0.00002796. With the breakdown of Shiba Inu, other metrics also contributed to the plunge. The 24-hour trading volume is down by 49.39% to $625,802,833. At its peak this week, the traded volume soared as high as $1 billion in a single day. With the derailment in the price of Shiba Inu on its way to the $0.00003 mark, the market may be allowed to run its course. This means that Shiba Inu might court the sell-off to the point that the Relative Strength Index (RSI), Bollinger Bands and other key trend change indicators will signal a reversal. The Shiba Inu whales might also contribute to deciding what comes next. Should whale investors sustain intensity in accumulation, the supply crunch of SHIB becomes more pronounced, fueling any likely surge in price. The dynamic nature of Shiba Inu has placed it at the forefront of the deflationary trend. With millions of Shiba Inu burnt on a daily basis, the meme coin project is setting itself on track for a rally in the long term. As a token with excessive supply, one unique way Shiba Inu anticipates its valuation can soar in the long term, besides the burning of its tokens, is to drive utility within its ecosystem. The protocol is doing this with the launch of Shibarium, its Ethereum layer-2 scaling solution. Amid all these fundamentals, SHIB aims to sustain the support level around $0.000025 while aiming to reclaim the $0.00003 level in the midterm.
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DOGE Price Prediction for May 22. DOGE/USD. The rate of DOGE has fallen by 2% since yesterday. On the hourly chart, the price of DOGE is rising after setting a local support level of $0.1617. If growth continues, one can expect a test of $0.17 by tomorrow. On the daily time frame, the rate of the meme coin has made a false breakout of yesterday's peak of $0.173. However, the candle is about to close far from its boundaries. In this case, sideways trading in the zone of $0.165-$0.17 is the more likely scenario. From the midterm point of view, the picture is more positive. If the weekly bar closes near or above the $0.17 level, the accumulated energy might be enough for a breakout, followed by a move to the $0.18 area. DOGE is trading at $0.1659 at press time. #MemeWatch2024
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