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70 Million XRP in 24 Hours, What's Happening? Two major XRP transactions were spotted earlier today. Tracking service Whale Alert revealed that more than 70 million XRP coins have been sent to two major crypto trading platforms. This comes amid a slight recovery of the XRP price after the recent market dump. In the first transfer, an unknown wallet sent about 33.78 million coins to crypto exchange Bitstamp. This transaction was worth around $14.67 million based on the current price of XRP. In the second transfer, another unknown wallet moved around 36.52 million XRP coins to trading platform Bitso. It was estimated to be worth around $15.84 million. The collective value of these XRP transfers is estimated to be around $30 million. This is a major amount of coins sent to crypto exchanges. The purpose of these transactions appears to be a sell-off. Traders typically send tokens to trading platforms from their wallets to reduce their holdings. In this case, these crypto traders have initiated a major sell-off of 70 million XRP coins. Typically, such developments leave a bearish impact on a coin. XRP may also struggle amid this intense selling pressure. However, it is also true that it will not be a long-term scenario. XRP price eyes recovery Amid today’s sell-off, the XRP price is trying to recover from its recent losses. As of writing time, the brainchild of Ripple is trading at $0.4406. While the price has increased 1.43% in the last 24 hours, it still has to secure more gains to shed the recent losses. A positive sign for the XRP token's price is that its RSI has entered a bullish zone. Currently at the value of 41, it is signaling that XRP may soon enter an uptrend. The RSI range of 40-50 is currently acting as support, and it means that XRP is not facing any bearish pressure. $XRP
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Top Alt Coins Picks For Breakout Rally Gains Next Week With the increasing chances of Bitcoin hitting the $60,000 mark this week, the bull run chances for this month are growing stronger. Further, the recovering rally in the alt coins gaining momentum signals a potential bull run. With high anticipation of a bull run in the market, here are the top under spoken alt coins ready for a massive jump. So, let’s look closer at the technical analysis of such alt coins to find the best entry opportunity this week. SAFE (SAFE) Gate Token (GT) Skale (SKL) $SKL $BTC
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Skale (SKL) With a market cap of $238M, the SKL price trend experiences a correction phase in motion. This leads to a falling channel in the daily chart, where the altcoin is down by 65% and under the $0.050 psychological mark. As per the Fibonacci level, the SKL price tests the 78.60% Fibonacci level at the $0.042 mark. With a minor bullish recovery in recent days, the altcoin is up 12% in five days. Considering the bull run continues, the SKL token could pump to the 50% Fib level at $0.084. $SKL
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Cryptocurrency Wallets Cryptocurrency wallets are digital tools for storing, sending, and receiving cryptocurrencies. They store private and public keys needed to interact with the blockchain. Types of Wallets: Hot Wallets: 🔵 Connected to the internet, used for everyday transactions. 🔵 Online wallets, mobile and desktop wallets. 🔵 Convenient and fast access. 🔵 Vulnerable to hacking attacks. Cold Wallets: 🔵 Not connected to the internet, providing a high level of security. 🔵 Hardware wallets, paper wallets. 🔵 High protection from hacks and theft. 🔵 Less convenient for frequent transactions. Why are cryptocurrency wallets needed? 🔵 Wallets protect cryptocurrency from theft and loss. 🔵 Allow sending and receiving cryptocurrency. 🔵 Provide full control over your assets without third-party involvement. Cryptocurrency wallets are essential tools for managing and protecting digital assets. The choice between hot and cold wallets depends on your security and convenience needs. #BinanceTurns7 #ETH_ETFs_Approval_Predictions $BTC
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The launch of an Ethereum-based ETF is nearing its final stages, according to Bitwise's chief commercial officer. The first Ethereum-focused ETF is expected to be approved and launched soon, which could have a significant impact on the cryptocurrency market. Analysts believe that the approval of such ETFs will attract significant investment in Ethereum, contributing to its growth and market value. This move could make Ethereum more accessible to institutional investors and increase its liquidity in the market. $ETH
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