NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Ripple Unlocks 500 Million XRP as Analysts Point to Immense Weakness

Cole Petersen
Cole Petersen
5 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

XRP has been trapped around $0.20 for the past several weeks, caught within a strikingly firm consolidation channel that has given it little room to make any notable movements.

This has made its trend grow increasingly unclear and has caused it to post a severe underperformance of Bitcoin and many of its other peers.

Analysts previously noted that the crypto was poised to see some upside after breaking into a bullish cloud formation, but it has since declined back below this technical pattern, invalidating its strength.

XRP’s weakness may also be compounded by the fact that Ripple just recently unlocked 500 million tokens from their escrow wallet – worth an estimated $101 million.

If these tokens find their way onto the market, it could place severe pressure on the embattled crypto, sparking a violent selloff.

XRP Continues Consolidating as Bitcoin and Other Altcoins Gain Momentum

At the time of writing, XRP is trading down just under 2% against both its USD and BTC trading pairs.

This has caused it to decline to $0.20, which happens to be around where it has been trading at for several weeks.

Its consolidation around this level has led it into a downtrend against Bitcoin – which is currently in the process of rallying up towards its yearly highs within the $10,000 region.

The cryptocurrency has been trading sideways around its current price level throughout the past few weeks, with the token first entering this range earlier this month when it declined from highs of $0.22.

One analyst recently noted that the cryptocurrency had attempted to generate some upwards momentum a few days ago when it navigated into a cloud resistance that it was previously facing.

Although breaks into cloud resistance typically result in movements to the cloud’s upper boundary, XRP was not able to do so and quickly declined to its range lows.

The analyst called this a “truly sad show” from the cryptocurrency.

“XRP: Disappointed… Back inside the previous range. Truly a sad show from XRP,” he stated.

XRP
Image Courtesy of Smokey

Ripple Unlocks Massive Amount of Tokens

One factor that could place further pressure on the embattled cryptocurrency is the massive unlocking of tokens from Ripple’s escrow wallet.

According to Whale Alert, 500 million XRP – worth over $101 million – was unlocked yesterday evening from the company’s escrow wallet.

“500,000,000 XRP (101,063,166 USD) unlocked from escrow at Ripple Escrow wallet,” they noted.

🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 500,000,000 #XRP (101,063,166 USD) unlocked from escrow at Ripple Escrow wallet

Tx: https://t.co/eaUOaxUNEh

— Whale Alert (@whale_alert) June 1, 2020

It is important to note that Ripple has significantly eased the rate at which they sell their holdings.

A recent report from Messari elucidates this, showing that Ripple had their lowest quarterly XRP sales ever in Q1 of this year, selling a mere $1.75 million worth of the tokens during this time period.

Featured image from Shutterstock.
Tweet123Share196ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Altcoins, alt season, crypto, Tron, SUI, Polygon

SUI Eyes 140% Move As Price Reclaims $4 – New ATH Imminent?

SUI is attempting to reclaim a crucial resistance level after its massive performance over the past few weeks. As it...

Rubmar Garcia 2 hours ago
Crypto news Jerome Powell firing

Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

A single-word reply on X from Rep. Anna Paulina Luna (R‑FL) — “Confirmed” — rocketed through the crypto markets early Wednesday, convincing a...

Jake Simmons 2 hours ago
비트코인 하이퍼, 프리세일서 250만 달러 유치… BTC 레이어 2모멘텀 가속

비트코인 하이퍼, 프리세일서 250만 달러 유치… BTC 레이어 2모멘텀 가속

비트코인이 12만 달러를 돌파하며 투자 심리 회복을 강하게 시사하고 있다. 자본이 비트코인을 넘어 알트코인으로 이동하면서 알트코인에 대한 관심도 급증하고 있다. 특히 상승장에 폭발...

Soyeon Lee 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ripple nieuws: XRP & SOL ETFs worden beste crypto's met potentie in 2025 volgens expert

Ripple nieuws: XRP & SOL ETFs worden beste crypto’s met potentie in 2025 volgens expert

Lars Diederiksen 36 minutes ago

Mercado Bitcoin doubles down on RWA, experts discuss what this means for the future of tokenized finance

NewsBTC 1 hour ago
Bitcoin má nové ATH.

Bitcoin překonává hranici 120 000 dolarů, jaké coiny s ním rostou nejvíce?

Lenka Hanzlíková 1 hour ago

Premium Sponsors

Press Releases

  • Öt, 1 dollár alatti altcoin szimbólum növekedési potenciállal, Bitcoin a háttérben.

    Cá Voi Crypto Đã Mua Những Alt coin Nào Trong Tuần...

    2 minutes ago
  • Can You Really Make $5,670 in 7 Days? Learn more about...

    6 minutes ago
  • 2 criptomonede cu evaluări extrem de ridicate care ar...

    27 minutes ago
  • MEXC Research Report Unveils 2025 ROI Benchmarks and...

    1 hour ago
  • e 3 coiny poniżej 1 dolara mogą zamienić 200 dolarów w...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.