Ripple (XRP) posts a second consecutive session of losses on Monday, dipping under the key psychological support of $0.60, as large-wallet investors seem to have engaged in a selling spree, ushering a correction in the price of XRP Ledger’s native token.
Ripple whales holding 100 million XRP and higher shed 140 million tokens in seven days. XRP retail investors accumulated the coin in the same time frame. XRP slips under support at $0.60, trades at $0.5950 at the time of writing. Ripple posts a second consecutive session of losses on Monday, dipping under the key psychological support of $0.60, as large-wallet investors seem to have engaged in a selling spree, ushering a correction in the price of XRP Ledger’s native token.
9380 on July 13, 2023, to the July 5, 2024, low of $0.3823. Since then it has recovered somewhat, trading in a sideways trend for the last month. In case of a correction, XRP could erase another 12% of its value and sweep liquidity at $0.5188, the lower boundary of the Fair Value Gap seen in the XRP/USDT daily chart. The Moving Average Convergence Divergence momentum indicator flashes green histogram bars above the neutral line, suggesting that XRP has an underlying positive momentum.
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