XRP (XRP) Price Recovers After Retesting Crucial Support Trendline; Can It Hit $3.20?

XRP, the native token of Ripple Labs, seems to be recovering after experiencing a notable price drop in recent days. The recovery began as the asset's

output: XRP, the native cryptocurrency of Ripple Labs, is experiencing a price recovery following a recent price decline.

The price of XRP began to recover after reaching a crucial ascending trendline support, which has been holding since early February 2025.

In addition to the price reversal zone, the shift in market sentiment across all cryptocurrencies also contributed to the price recovery.

This shift, as noted by on-chain analytics firm Coinglass, has seen investors and traders re-entering the market with a positive outlook.

$76 Million in XRP Outflow

According to data from the Spot Inflow/Outflow, exchanges across the cryptocurrency landscape recorded an outflow of a significant $76 million worth of XRP tokens over the past 24 hours.

This outflow suggests potential accumulation, which could exert buying pressure and drive further upward price momentum.

Source: Coinglass

Moreover, on the previous day, as XRP was struggling, a crypto whale from Gemini moved 20 million XRP tokens, valued at $50.65 million, to a wallet.

Since then, the price of XRP has stabilized at its crucial ascending support level. However, the identity of the wallet address and the purpose of the transaction remain unknown.

$120 Million in Long Bets on XRP

Complementing the sustained participation and interest from whales, traders are also following suit.

Data from Coinglass reveals that intraday traders holding long positions are currently dominating the asset, with over-leveraged long positions at the $2.44 level, amounting to $124 million.

Source: Coinglass

XRP's Current Price Momentum and Price Action

Amidst this bullish market sentiment and the positive outlook from traders and investors, XRP was trading at around $2.61, exhibiting a price increase of nearly 1% in the past 24 hours.

However, during the same period, its trading volume surged by 11%, indicating heightened participation compared to the previous day.

According to AMBCrypto's technical analysis, XRP began moving upward after successfully retesting its support from the ascending trendline.

Based on recent price action, if XRP manages to sustain its price above the $2.50 level, there is a strong possibility that it could soar by 22% to reach the $3.20 level in the future.

Source: TradingView

Despite this bullish technical analysis, the asset's price is still trading below the 200 Exponential Moving Average (EMA) on the four-hour time frame, which indicates that XRP is in a downtrend, although this may not be impacting traders and investors at present.