XRP is ready to "burn", 157.7 million coins moved







According to an analyst, XRP may soon "burn" and continue one of the "once a year" upward moves.


The price of XRP in sats nearly doubled is the most reasonable target. Is Ripple coin finally ready to reclaim some of its lost profits?


XRP/ BTC prepare price increase annual


XRP is still among the top 3 cryptos by market capitalization alongside Bitcoin and ETH, despite being one of the worst performing crypto assets on the market.


The 3rd ranked digital currency peaked at the end of 2017 for more than $ 3.50 before dropping more than 95% to a low of just 10 cents last month due to fear of Corona virus and panic flooding the market. finance, causing a massive sell-off.


After a two-year decline from the peak, XRP is finally showing signs of being ready to "burn again" and is likely to enter one of the annual price increases.




"XRP: Cfeeling like coming burning to increase every year as usual ”.


Stacking XRP periodically the price increase annual


It's rare for XRP to maintain a strong uptrend. Not only are investors looking to quickly sell new assets to recover after more than two years of decline, but Ripple has also stepped up selling pressure to fund the company's regular operations.


But at least once a year, often coinciding with Ripple's annual Swell conference, XRP will have a huge pump.


During the hype, XRP has at least one strong pump each year.


xrp


The first was in late December 2017, pushing the price to an all-time high (ATH) above $ 3.50, or 23,000 satoshi for the Bitcoin trading pair.


The next Pump took place in 2018, bringing a booming profit of 167% to XRP investors on the XRP / BTC trading pair.


Again in 2019, XRP had another pump, but it only brought 50% profit. Each time after ATH, prices erase the profit gained in each annual increase.


However, this large increase can be unexpectedly explosive when the selling pressure is exhausting after 2 years of downtrend.


When the last resistance level is broken, the first target of XRP will be 4,000 sats, an increase of about 50%, similar to the pump efficiency in 2019. However, if that target is quickly achieved, then the increase will have may explode more after more than 2 years of downtrend.


On average, XRP soared by 555% between 3 gains, showing just how high the asset is likely to be if the first 50% target is fulfilled.


More than 157.7 million XRP were moved


According to data from XRPL Monitor, anonymous exchanges and wallets have recently transferred 157.7 million XRP to each other.


Among those senders is the co-founder and former Ripple CEO Chris Larsen, who was recently listed on Forbes 2020's billionaire list. His net worth is $ 2.6 billion. However, this time, he only transferred 10 million XRP, which is equivalent to $ 1,992.09.


xrp


Source: Bithomp


Ripple's ODL partner in Mexico - Bitso transferred 38,837,866 XRP, which is equivalent to $ 7,736,852.


xrp


Source: Twitter


Blockchain giant Binance also joined in as much as 30,000,000 XRP ($ 5,976.27).


The rest is held by BitGo, Bitstamp and anonymous wallets.


Chris Larsen was cured COVID-19


About a week ago, former Ripple CEO Chris Larsen shared the news of a full recovery after Corona virus infection.




"Thanks to everyone on the front line for safety protection For us - I am truly grateful that I have fully recovered from infection COVID19. If you are well cured, let's blood donation to help antibody implant ”


You can see the price of XRP here.


Disclaimer: This is not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.


Minh Anh


According to AZCoin News








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