Coinbase Supply Boosted by 33,346,925 XRP Inflow: Details
Main Idea
Coinbase has received significant XRP inflows totaling 33,346,925 XRP in two transactions, amid market uncertainty and potential price movements for XRP.
Key Points
1. Coinbase received two transactions of 16,673,461 XRP each from unknown wallets, totaling 33,346,925 XRP.
2. XRP's price was down 0.23% to $3.09 at press time, with broader market uncertainty and $399 million in liquidations.
3. Cryptocurrency analyst Ali suggests XRP may be forming a double bottom pattern, with a breakout potential above $3.30 targeting $3.60.
4. A fall below $2.995 could lead to a deeper decline in XRP's price.
5. The transactions coincide with market volatility and Fed Chairman Jerome Powell downplaying expectations for additional rate cuts.
Description
This comes at time when XRP is weighing next major price move
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