CandleFocus

XRP Buy Alert! $213 Million Outflow from Exchanges

Author: Content Editor
The price of XRP, the native token of Ripple Labs, has declined over the past 24 hours, but some experts see it as a buying opportunity amidst a bearish sentiment in the cryptocurrency market. Whales and institutions have increased their participation in the market, as indicated by data from on-chain analytics firm Coinglass, despite a significant outflow of $213 million worth of XRP from exchanges. XRP is retesting its recent breakout at the $2 level and showing signs of a price reversal, suggesting potential upside momentum in the near future. The asset's Relative Strength Index (RSI) indicates that it is not overbought, leaving room for further price growth. Currently, XRP is trading near $2.25, experiencing a 2.5% price decline in the past 24 hours but showing recovery and increased trading volume.

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