On-chain metrics reveal that exchanges have witnessed an outflow of $75 million worth of XRP tokens.
XRP price continues to show strength as it adds another 6.5% to its value. This price action and the broader market recovery seem to be garnering attention from crypto enthusiasts, leading to the accumulation of XRP tokens and bullish bets.
On-chain metrics reveal that exchanges have witnessed an outflow of $75 million in XRP tokens, indicating potential accumulation by investors and long-term holders. This bullish activity occurred as the asset began showing signs of a price reversal from the ascending trendline that XRP has followed since the beginning of February.
Currently, XRP is trading at $2.65 and has surged over 6.5% in the past 24 hours. However, during the same period, its trading volume jumped by 11%, indicating heightened participation from traders and investors.
Moreover, XRP price appears to be forming an ascending triangle pattern on the four-hour timeframe and is currently approaching the resistance level, or neckline, at $2.80. With the current market sentiment and bullish investor activity, XRP could easily reach this level. Additionally, if market sentiment remains unchanged, XRP could hit $3.30 in the future.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
