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30,171,667 $XRP Sent To Coinbase, Selloff Incoming? XRP is whale a potential selloff amid whale transfer to Coinbase. XRP price has managed to stay resilient despite visible bearish sentiments. RLUSD stablecoin launch may boost $XRP liquidity and price in the long run. Amidst the festivities that come with the Christmas holiday, some investors and traders have remained active. $XRP price action during Christmas season could be on an exciting ride. A recent transfer of over 30 million $XRP to Coinbase cryptocurrency exchange was spotted onchain. Notably, this transfer has raised concerns about a potential selloff, which could negatively impact the price of XRP. Latest $XRP Whale Action and Market Impact Blockchain security tracker Whale Alert noted that this 30,171,667 $XRP transfer had a value of $69,244,848 at the time. The funds shifted from an unknown wallet with the tag “rBgEsEX.” 🚨 🚨 🚨 30,171,667 #$XRP (69,244,848 USD) transferred from unknown wallet to Market observers are most concerned that the transaction came from an individual wallet to a major exchange. Ordinarily, this situation precedes an imminent selloff. Conversely, it could be seen as a whale moving their assets to self-custody. XRPWallet, a community enthusiast that tracks large movements of the Ripple-associated cryptocurrency, believes the transaction is just a Coinbase-to-Coinbase transfer. It may only be an internal operation of the Brian Armstrong-led crypto exchange and nothing more. If this is the case, the XRP ecosystem may have nothing to worry about regarding the impending sell pressure. XRP Price in Ongoing Market Rally Whatever the case may be, a transfer this large is capable of fueling negative sentiments for the coin. Regarding price, XRP price has had a slight fall amid growing attempts for a rebound in the past 24 hours. According to market data, the coin has lost 2.09% of its recent price gain and is now trading at $2.27. Despite this mild drawdown, XRP is still the fourth-largest cryptocurrency by market cap. If market conditions become more favorable, XRP may pare off these losses amid the so-called “Santa Rally.” Per an earlier analysis from The Coin Republic, market analysts recently identified that the XRP price chart signals a potential breakout. With so much optimism, analysts are looking forward to a $4 price target for the coin. Top Analyst Rose Premium Signals highlighted that the XRP price is currently in a correction phase, which presents possible buying opportunities. According to the analyst, $1.9280 is the key rebuy zone for XRP, with $4 set as the final target for the next price. Other analysts have also identified a striking parallel between the current XRP’s price actions and its historical rally in 2017. Ripple RLUSD and Impact on Price Growth As part of the trends in the XRP ecosystem, Ripple’s United States dollar-pegged stablecoin RLUSD eventually launched on top global exchanges last week. These exchanges include Uphold, MoonPay, CoinMENA, ArchaxEx, and Bitso. A few days ago, Independent Reserve became the first Singapore cryptocurrency exchange to list the stablecoin. Other potential partners are Bullish, Mercado Bitcoin, Bitstamp, and Zero Hash. Several $XRP community members remain concerned about the potential impact that RLUSD could have on XRP’s utility and price. To allay their fears, Ripple President Monica Long has discussed the key implications of RLUSD for the $XRP ecosystem. In her exposition, she said the two assets are very different from each other and serve different purposes. Despite these dissimilar functions, the price of $XRP still dropped by a few percent immediately after Ripple launched the stablecoin. Recently, it was reported that RLUSD could make a monumental impact by introducing $11.55 trillion into the XRP Ledger. This massive liquidity move would revolutionize global payments and trigger an XRP price surge. Disclaimer The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate. Our Newsletter Subscribe to our newsletter to get the latest news and promotions. xrp Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on Blockchain.news, Cryptonews and Coingape, among others.

Bitcoin's price performance post-Christmas in halving years has been a mixed bag, but with some interesting patterns. Historically, Bitcoin's price has surged during the weeks leading up to Christmas, especially in halving years ¹. For instance, after the 2012 halving, Bitcoin's price rose by over 9,000% in early 2013. Similarly, the 2016 halving was followed by a post-Christmas breakout of over 2,100%, fueling the 2017 bull market. The same trend repeated after the 2020 halving, with Bitcoin surging by over 100% during the holiday season ¹. However, not all Christmas seasons have been kind to Bitcoin investors. In years like 2014, 2015, 2021, and 2022, Bitcoin saw declines due to bearish market conditions or post-bull-cycle corrections ². Several factors contribute to Bitcoin's performance during the holiday season. These include institutional momentum, economic indicators, technological advancements, seasonal sentiment, and supply dynamics ². Looking ahead to this Christmas, some experts predict that Bitcoin could continue its growth past the $100,000 mark due to historical patterns and current sentiment ². However, potential volatility remains a consideration, with options market data showing increased demand for protective puts ahead of the December 27 options expiry ².$BTC

Bitcoin's potential surge is a topic of much interest and speculation. According to analysts, Bitcoin's price could see substantial growth in 2024, driven by factors such as increasing institutional adoption, regulatory advancements, and global economic conditions ¹. One key event that could impact Bitcoin's price is the upcoming halving event in April 2024. Historically, the halving event has led to a significant increase in Bitcoin's price. For instance, after the 2020 halving event, Bitcoin's price rose by 616% over the next 18 months ². In terms of price predictions, some analysts forecast that Bitcoin could reach $60,000 by the end of 2024, while others predict it could rise as high as $250,000 by 2025 ¹. Looking ahead to 2026 and beyond, predictions suggest that Bitcoin could continue to rise, driven by mainstream adoption and blockchain advancements, potentially reaching prices between $100,000 to $500,000 or more ¹. *Key Factors Influencing Bitcoin's Price:* - _Institutional Adoption_: Increasing institutional investment in Bitcoin could drive up demand and price. - _Regulatory Advancements_: Favorable regulatory changes could boost Bitcoin's legitimacy and value. - _Global Economic Conditions_: Economic instability and inflation could lead to increased demand for Bitcoin as a safe-haven asset. - _Halving Event_: The upcoming halving event in April 2024 could lead to a significant increase in Bitcoin's price. Keep in mind that these predictions are subject to change and should not be taken as investment advice. It's essential to do your own research and consider multiple sources before making any investment decisions.$BITCOIN

Miners also committed to purchasing hardware for up to $2 billion between July 2023 and September 2024. The ASIC mining tools are still dominated by Bitmain, which captures a significant portion of purchases. According to TheMinerMag, on Nov. 28, key players in the cryptocurrency and Bitcoin mining industry published their financial reports. Since the beginning of this year, most of the publicly traded companies have raised $5 billion in funding through equity and debt financing. The debt financing only accounts for 12.5% of the funding, around $625 million this year. Equity financing has a significant portion of $4.4 billion, with $813 million in funding in this quarter alone. Those companies also reported the cumulative budget that has been spent on property, plant, and equipment (PP&E), which amounts to $3.6 billion. This spending on infrastructure for Bitcoin mining rose after global computing power dedicated to Bitcoin mining, also called hashrate, surged.Bitcoin miners’ major player has announced their third-quarter financial report, resulting in billions of dollars in funding and spending.

Miners also committed to purchasing hardware for up to $2 billion between July 2023 and September 2024. The ASIC mining tools are still dominated by Bitmain, which captures a significant portion of purchases. According to TheMinerMag, on Nov. 28, key players in the cryptocurrency and Bitcoin mining industry published their financial reports. Since the beginning of this year, most of the publicly traded companies have raised $5 billion in funding through equity and debt financing. The debt financing only accounts for 12.5% of the funding, around $625 million this year. Equity financing has a significant portion of $4.4 billion, with $813 million in funding in this quarter alone. Those companies also reported the cumulative budget that has been spent on property, plant, and equipment (PP&E), which amounts to $3.6 billion. This spending on infrastructure for Bitcoin mining rose after global computing power dedicated to Bitcoin mining, also called hashrate, surged.Bitcoin miners’ major player has announced their third-quarter financial report, resulting in billions of dollars in funding and spending.