More
    HomeAnalysisXRP price recoils despite the Roblox news as whale transactions rise

    XRP price recoils despite the Roblox news as whale transactions rise

    Published on

    DIGITAL MARKETING SERVICES

    spot_img

    Ripple (XRP) price has moved sideways in the past few months as the recent consolidation continues. The coin was trading at $0.50 on Tuesday after Roblox announced that it will integrate it into its ecosystem. Ripple has dropped by more than 47% from its post-SEC lawsuit victory high.

    Ripple price reacted mildly to news from Roblox, one of the biggest metaverse and gaming companies in the world. Roblox has a market cap of over $18 billion and millions of users. In a statement, the company said that it will activate XRP payments in its ecosystem.

    Ripple has had other victories in the past few months. For one, the judge overseeing its case against the Securities and Exchange Commission (SEC) rejected the agency’s plan to appeal the verdict. The judge ruled that XRP was not a financial security as the agency alleged.

    Meanwhile, Ripple recently acquired Fortress Trust, a company that provides crypto infrastructure services. The acquisition gave the company a license to operate in Nevada, a potential big market in the crypto industry.

    Fortress Trust is a company that helps companies interact with digital currencies. It joins other companies that Ripple Labs has acquired in the past few years. It bought Metaco in a $250 million deal. Metaco is a Swiss company that provides crypto custody services.

    A likely reason why XRP has struggled is that more whales have been moving the tokens substantially in the past few months. For example, a whale moved XRP worth over $14 million from an unknown wallet to Bitstamp. It is unclear whether this whale wants to sell the token or not.

    Another XRP whale moved tokens worth over $36 million from Ripple to an unknown wallet. On Monday, another whale transferred XRP coins to BitStamp. To be clear, these large transactions are not necessarily bad. However, they tend to send the wrong information in the market.

    How to buy Ripple

    The post XRP price recoils despite the Roblox news as whale transactions rise appeared first on CoinJournal.

    COMMUNITY

    spot_img

    SITE VISITS

    Map

    Latest articles

    This Altcoin Group Will Run First After Market Wipeout As Capital Takes Flight to Quality, Says Crypto Strategist

    A closely followed crypto analyst thinks market participants will seek shelter in a group...

    BlockDAG Gets 30,000x ROI Projection as Teaser about Keynote from the Moon Drops Amid Polygon Price Correction & Polkadot Rise

    BlockDAG Gets 30,000x ROI Projection as Teaser about Keynote from the Moon Drops Amid...

    Azteco Is Helping Millions Buy Bitcoin Without Sharing Their Identity

    Azteco Is Helping Millions Buy Bitcoin Without Sharing Their Identity Company Name: AztecoFounders: Alexander Fernandez and...

    The Weekly Reorg: Bitcoin Fashion Week

    The Weekly Reorg: Bitcoin Fashion Week In case you missed it, Bitcoin Season 2 released...

    More like this

    This Altcoin Group Will Run First After Market Wipeout As Capital Takes Flight to Quality, Says Crypto Strategist

    A closely followed crypto analyst thinks market participants will seek shelter in a group...

    BlockDAG Gets 30,000x ROI Projection as Teaser about Keynote from the Moon Drops Amid Polygon Price Correction & Polkadot Rise

    BlockDAG Gets 30,000x ROI Projection as Teaser about Keynote from the Moon Drops Amid...

    Azteco Is Helping Millions Buy Bitcoin Without Sharing Their Identity

    Azteco Is Helping Millions Buy Bitcoin Without Sharing Their Identity Company Name: AztecoFounders: Alexander Fernandez and...
     - 
    Arabic
     - 
    ar
    Bengali
     - 
    bn
    German
     - 
    de
    English
     - 
    en
    French
     - 
    fr
    Hindi
     - 
    hi
    Indonesian
     - 
    id
    Portuguese
     - 
    pt
    Russian
     - 
    ru
    Spanish
     - 
    es