Coinbase Supply Boosted by 33,346,925 XRP Inflow: Details

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.