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XRP Whale Moves 151 Million Coins as Price Rebounds to $0.51, What’s Next?

TokenTalk Staff

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The whale moves 60 million coins amidst the price flow, what will be the next step?

Against the backdrop of a slow trading session witnessed by XRP over the past week, the price of the Ripple-backed token regained upward momentum today, May 16, rebounding to the $0.51 price level. This phenomenon has attracted significant attention among cryptocurrency market participants globally, as whales have further shuffled a whopping 151 million XRP amid this notable price rally.

On-chain data hovering over the crypto horizon has revealed buildups and dumps of XRP in hand, sparking mixed market feelings about the token’s future price action. Here’s a deep dive into XRP’s on-chain data and recent price movements.

Whales move 151 million coins, spark speculation

Whale Alert, an on-chain analytics platform, reported a staggering 151.31 million XRP moved by crypto whales in the last 24 hours. These transactions, which indicate a mix of dumps and buildups, have left market sentiments on XRP’s future price action in a state of uncertainty.

According to the data, a popular XRP whale, …Rzn, has continued to dump significant amounts of XRP CEX Bitstamp and Bitso. Meanwhile, an unknown address, r99QSej32n, has been registered and has accumulated as much as 100 million XRP from Coinchecka Japanese cryptocurrency exchange.

Although the huge amount of tokens accumulated in the last 24 hours undermines the number of coins moved to Bitstamp and Bitso, it is worth mentioning that the famous whale XRP continuously downloads coins following Ripple’s strategic collaboration with the aforementioned CEXs. Collectively, this data suggests that the Ripple-backed token is seeing both buying and selling pressure in tandem, causing a flurry of mixed market sentiments among cryptocurrency market investors.

Read also: Cryptocurrency prices today, May 16: Bitcoin exceeds $65,000, Ethereum on the rise and Floki in the spotlight

XRP price rise

At the time of writing, The price of XRP it jumped 3.97% in the last 24 hours and is currently trading at $0.5187. Its 24-hour lows and highs are $0.4984 and $0.5196, respectively.

At the time of writing, Coinglass data highlights a bullish market trend for XRP, with open interest rising 3.53% to $580.92 million, followed by an increase in derivatives volume ​​by 9.80% to 831.97 million dollars. However, the RSI stood at around 49, suggesting that the asset is neither overbought nor oversold.

This has sparked a whirlwind of speculation about the future price action of the Ripple-backed token. Additionally, as May 20th approaches, the XRP community is preparing for new developments regarding the Ripple lawsuit against the US SEC.

In the meantime, XRPLthe layer 1 blockchain behind XRP, has recently undertaken a series of developments.

Read also: GameStop (GME) Frenzy Spreads Into Crypto Meme Coins, Watch Out Ahead?

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CoinGape includes an experienced team of native content writers and editors who work around the clock to cover news globally and present news as fact rather than opinion. CoinGape writers and journalists contributed to this article.

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for personal financial loss.



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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Meme Coin Merger: Presidential Tokens TRUMP and BODEN Collapse in Market Crash – Market Updates Bitcoin News

TokenTalk Staff

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Meme Coin Merger: Presidential Tokens TRUMP and BODEN Collapse in Market Crash - Market Updates Bitcoin News

https://news.google.com/./articles/CBMiaWh0dHBzOi8vbmV3cy5iaXRjb2luLmNvbS9tZW1lLWNvaW4tbWVsdGRvd24tcHJlc2lkZW50aWFsLXRva2Vucy10cnVtcC1hbmQtYm9kZW4tdHVtYmxlLWFta WQtbWFya2V0LXNsdW1wL9IBAA?hl=en-US&gl=US&ceid=US%3Aen

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OpenAI co-founder announces his new company, AI tokens rally

TokenTalk Staff

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OpenAI co-founder announces his new company, AI tokens rally
  • Former OpenAI co-founder Ilya Sutskever announced Wednesday the launch of a new artificial intelligence research lab in the United States.
  • News of the launch of Safe Superintelligence Inc. catalyzed gains in AI-related crypto tokens.
  • The market capitalization of the AI ​​category increased by 12% in the last 24 hours.

Artificial intelligence (AI) crypto token prices rise on Thursday following news that OpenAI’s co-founder has started his own company. Ilya Sutskever, former chief scientist at OpenAI, announced the launch of a security-focused AI research lab in Palo Alto and Tel Aviv, US.

The news comes amid concerns regarding the security aspect of Artificial General Intelligence (AGI), under development at OpenAI.

According to data from CoinGecko, the market capitalization of AI tokens increased by 12% in the last 24 hours.

AI Tokens See Huge Price Gains

AI tokens such as Near Protocol (NEAR), Fetch.ai (FET), Internet Computer (ICP), Render (RNDR), Bittensor (TAO), The Graph (GRT), SingularityNET (AGIX) and Akash Network (AKT) extended gains in recent 24 hours, according to CoinGecko data.

AI tokens

AI tokens

The rally can largely be attributed to the announcement of the new company, Safe Superintelligence Inc. The team consists of former co-founder Ilya Sutskever, American entrepreneur Daniel Gross and Daniel Levy, a research assistant at the laboratory of computer scientist Stephano Ermon . Sutsekever served as chief AI scientist at OpenAI and focused on the “safety” aspect when developing AGI.

The announcement of the fundraising for Artificial intelligence projects from hedge funds and Venture Capital is another catalyst that will likely fuel gains in this token category. Pantera Capital announced on June 19 its decision to invest $200 million in artificial intelligence ventures, according to a report by DLNews.

Major crypto funds are raising $1 billion, of which AI will receive a 15 to 20% investment. This development is another market driver, which is likely to influence investor sentiment towards AI tokens.



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LayerZero’s ZRO token airdrop with mandatory donations is live

TokenTalk Staff

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LayerZero's ZRO token airdrop with mandatory donations is live

“ZRO Claims is live” Source: LayerZero Foundation on X.

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Complaints about LayerZero’s new ZRO token it went live today, but the airdrop mechanic required a 10 cent donation for each token participants wish to receive. This initiative, announced via an X post, binds symbolic statements to direct donations to the Protocol Guild, with the goal of aligning long-term commitment with the LayerZero protocol.

LevelZero underlined the innovative aspect of this approach, stating that, by donating, eligible recipients “show a long-term alignment with the LayerZero protocol and a commitment to the future of cryptocurrencies.”

The foundation will match donations up to $10 million, marking the first instance of mandatory donation for airdrop requests in the cryptocurrency industry.


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SapphireSapphire

Reception from the crypto community has been mixed. Some users disapproved of the mandatory donation, while others appreciated the development support. The airdrop will see 85 million ZRO tokens available for distribution, with over 50% reserved for key investors and contributors as part of a three-year vesting program.

Despite some dissatisfaction, LayerZero’s ZRO token is highly anticipated, trading at $4.27 in pre-market futures. It is expected to launch on exchanges like Binance at midday UTC, although it appears that the exchange has done so postponed this at 13:00 UTC.

LayerZero’s airdrop eligibility checker, released the day before, also drew criticism from DeFi users. Many expressed frustration with the small assignments despite significant use of the protocol. The allocation process appeared to favor holders of specific NFTs, such as Pudgy Penguins and Kanpai Pandas, over those with a high number of transactions or Gh0stly Gh0sts NFTs.

Approximately 1.28 million wallets are eligible for the airdrop, with 8.5% of the total community allocation of 23.8% to be distributed initially. The remaining tokens will be distributed over the next three years through various incentives and rewards.

The pre-market valuation for ZRO is $4.50, representing a fully diluted value of $4.5 billion. However, the state of airdrop farming is causing growing frustration among users, with decreasing investment returns and oversaturation of protocols.

Echo.xyz founder Cobie commented on these growing concerns, said: “If you’re a founder, IMO, you’re probably thinking about never doing an airdrop again these days; now the disadvantages are much greater than the advantages.”

LayerZero also received criticism back when asked the farmers of Sybil to self-report. Next up, LayerZero CEO Bryan Pellegrino confirmed that up to 100,000 wallets have self-reported their Sybil activities.

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Will AGIX and OCEAN AI tokens lead the bullish rally with a massive price breakout?

TokenTalk Staff

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Will AGIX and OCEAN AI tokens lead the bullish rally with a massive price breakout?

The Artificial Intelligence (AI) category continues to dominate the cryptocurrency market for the second day in a row, indicating a growing dominance of AI tokens over elite cryptocurrencies in the crypto space.

In particular, Fetch.ai (FET) Price. and Turbo (TURBO) posted the highest gains in the AI ​​category over the past day. Additionally, SingularityNET (AGIX) and Ocean Protocol (OCEAN) have seen similar trends adding over 20% to their respective portfolios, highlighting more bullish action.

With the ongoing bull market, will AGIX and OCEAN prices rise another 30% this month? Let’s go, as in this article we have covered the price analysis and market sentiments for SignularityNET (AGIX) and Ocean Protocol (OCEAN) for this month.

SingularityNET suggests another price hike this month?

After showing bearish price action since the beginning of the month, AGIX price has shown strong bullish price action this week by adding 24.55% to its portfolio in the last 24 hours. Furthermore, the altcoin has increased by 35.02% in the last 2 days, highlighting a greater positive influence.

TradingView: AGIX/USDT

The technical indicator, SMA, shows a positive crossover in the 1D time frame, indicating an increase in buying-selling pressure for the AGIX cryptocurrency in the market.

On the other hand, the Relative Strength Index (RSI) registers a sharp increase below the oversold range, highlighting a growing bullish sentiment in the cryptocurrency sector. Furthermore, the average shows bullish convergence, suggesting that the price will continue to gain value this week.

If AI tokens continue to experience positive influence from the cryptocurrency market, the AGIX coin price will prepare to test its upper high of $1 in the coming times. However, if investors start to take profits, SingularityNET price will plummet towards the lower support level of $0.380.

The OCEAN price records a bullish reversal:

Ocean Protocol price has seen a strong bullish reversal on its price chart below its important $0.5930 level, resulting in a valuation increase of around 35% this week. Furthermore, with the growing positive influence, OCEAN price is expected to continue gaining value this week.

TradingView: OCEAN/USDT

With a trading price of $0.6741, a circulating supply of 1,408,900,141 OCEAN Tokens and a total supply of 1,410,000,000 OCEAN Tokens, Ocean Protocol cryptocurrency has successfully secured the 153rd position on the global list of cryptocurrencies with a market capitalization of $378.332 million.

The moving average convergence divergence (MACD) shows a steady decline in the red histogram, indicating an increase in price action for the AI ​​token in the crypto space. Furthermore, the averages register a high possibility of bullish convergence, suggesting a positive outlook.

If the market is trading with a bullish sentiment, Ocean Protocol price will prepare to test its upper resistance level of $0.9990 this month. On the contrary, if a bearish reversal occurs, the OCEAN cryptocurrency would plummet towards its important support level of $0.5930.

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