XRP Price Analysis for April 10th- Massive Transaction Did Not Help XRP Grow

By Dmitriy Gurkovskiy, author at RoboForex Blog.

On Friday, April 10th, the XRP price is declining. The cryptocurrency is generally trading at 0.1934 USD.

On H4, the quotations remain inside an ascending channel. However, we must note that the ascending has reached 38.2% of the previous declining wave. and a divergence has formed on the MACD. These events taken together mean that a mid-term declining wave may begin, but this must be confirmed by a breakaway of the support line near 0.1865 USD. The primary aim of the decline will be 0.1600 USD and then the low of 0.1165 USD.

XRP/USD H4

On H1, we may see the picture in detail; there is a descending channel forming after a Black Cross on the Stochastic. The current declining momentum is aimed at the support level of 0.1840 USD. A breakaway of this level will open the way to 0.1690 USD.

XRP/USD H1

In the last 22 hours, crypto exchange facilities transferred a huge sum of the XRP. In the transactions, a Ripple partner Bitco and the Binance exchange were noticed. The ex-director general of Ripple Chris Larsen also participated.

In less than 24 hours, about 160 million XRP has been transferred. Along with major players, anonymous investors from various exchanges took part.

Chris Larsen, the ex-director general of Ripple, recently included in the list of Forbes-2020, was among those who made the transactions – he transferred about 10 million XRP for 1.9 million USD. Meanwhile, Bitco, working in Mexica, carried out transactions for 38.8 million XRP, which is 7.7 million USD.

Larsen, by the way, has recovered from the coronavirus and keeps asking everyone who also recovered to donate blood which will help the sick: researchers have figured out that the blood of those who recovered from COVID-19 contains antibodies which help to fight the disease.

Disclaimer: Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

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