Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Time to buy XRP? $55 million of Asset Outflow from Exchanges

Share This Post

XRP Breakout Alert_ Bullish Divergence Hints Stronger Bounce To $2.30

The post Time to buy XRP? $55 million of Asset Outflow from Exchanges appeared first on Coinpedia Fintech News

XRP, the native token of Ripple Labs, is gaining massive attention from long-term holders despite a significant sell-off in the cryptocurrency market. On April 4, 2025, data from an on-chain analytics firm revealed that exchanges have been witnessing continuous outflows, even as the asset’s price continues to decline.

$55 Million Worth of XRP Outflow

Data from Coinglass revealed that exchanges have witnessed an outflow of a significant $55 million worth of XRP tokens over the past 48 hours. This substantial outflow from exchanges indicates a sign of accumulation and further raises a concern about whether this is an ideal level to buy or not.

Source: Coinglass

Current Price Momentum

At press time, XRP is trading near $2.05 and has recorded a price decline of over 5% in the past 24 hours. However, during the same period, its trading volume jumped by 95%, indicating increased market activity and explaining the asset’s outflow from exchanges.

XRP Price Action and Upcoming Levels

According to expert technical analysis, the asset has reached a key level following this massive price decline, creating a make-or-break situation for XRP. The asset’s daily chart reveals that it has formed a bearish head and shoulders pattern and is currently near the neckline.

Source: Trading View

However, this level is crucial due to its historical price momentum. Historically, whenever XRP reaches this level, it tends to show a price reversal or rebound, which might explain the recent outflows from exchanges.

However, if the current market sentiment remains unchanged and the price continues to fall, there is a strong possibility that XRP could drop by 44% to reach the $1.20 level in the future.

$58 Million Worth of Bullish Bet

Coinglass liquidation data shows that traders are currently bullish on XRP. At press time, the major liquidation levels or over-leveraged positions are at $2.08 on the upper side and $1.93 on the lower side. At these levels, traders have built $28 million and $58.70 million worth of short and long positions, respectively, over the past 24 hours.

Source: Coinglass

These levels indicate that bulls are currently dominating the asset and are hoping that XRP’s price will not fall below the $1.93 level in the coming days.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Vitalik Buterin outlines bold Ethereum goals for 2025 as user engagement peaks

Ethereum co-founder Vitalik Buterin unveiled a set of ambitious goals for the network’s next phase of development, coinciding with a new milestone in ecosystem engagement In an April 30 post,

Ethereum CrossX Indicators Flashes Buy As Insitution Accumulates, Analyst Says Brace For $4,000

New reports indicate that the Ethereum (ETH) CrossX indicator is flashing strong buy signals, suggesting a potential breakout toward $4,000 As the market transitions from selling to buying, on-chain

Crypto Council Letter Urges SEC to Provide Clarity on Staking

The organization is a collection of more than thirty crypto firms that lobby public institutions for better regulation of the industry Industry Leaders Call on SEC to Define Rules for Crypto Staking

Phoenix Group Boosts Ethiopia Bitcoin Mining Capacity to 132 MW

Phoenix Group has expanded its Bitcoin mining operations in Ethiopia, securing an additional 52 megawatts, bringing its total capacity there to 132 megawatts and surpassing 500 megawatts globally

Dogecoin Price To $10? Why The 21Shares ETF Filing Could Signal Good Things To Come

The conversation surrounding Dogecoin may be gradually shifting, and recent market developments suggest that the meme coin could be poised to reach new all-time highs The most recent development

Ripple’s reported $5 billion offer for Circle rejected as too low

Ripple has proposed a takeover of Circle, offering between $4 billion and $5 billion to acquire the stablecoin issuer, Bloomberg News reported on April 30, citing sources familiar with the matter