CandleFocus

$46 Million in XRP Leaves Binance, Buy Signal or What?

Author: Content Editor
Crypto whales recently transferred 22.08 million XRP tokens worth $46.13 million from Binance to an unknown wallet. This activity suggests a "buy the dip" mentality among investors. Additionally, on-chain metrics show that exchanges have experienced a significant outflow of $139.5 million, indicating that long-term holders are accumulating despite recent price declines. XRP's daily chart also shows a bullish flag and pole pattern, potentially signaling significant upside momentum. If XRP can hold above the support level of $2 and break resistance at $2.5, it could potentially soar by 60% to reach $4.2. However, there is also a possibility of an 18% price decline if sentiment turns bearish. Currently, XRP is trading around $2.40 and has seen a price surge of over 20% in the past 24 hours, although trading volume has decreased.

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