News View Non-AMP

XRP Buy Alert! $213 Million Outflow from Exchanges

Published by
Chandan Gupta

XRP, the native token of Ripple Labs, has garnered significant attention from crypto giants despite a notable price decline over the past 24 hours. As of today, December 11, 2024, sentiment across the cryptocurrency landscape appears bearish, which experts consider a price correction.

Whales’ Rising Interest In XRP

However, some believe this might be a perfect buying opportunity, as the crypto industry continues to gain support from prominent figures like pro-crypto President Donald Trump and the recently elected Chair of the Securities and Exchange Commission (SEC).

Given this market outlook, participation from whales and institutions has skyrocketed in the past 24 hours, according to the on-chain analytics firm Coinglass.

XRP Exchange Outflows Spike to $213 Million

Amid the ongoing price decline, data on XRP spot inflow and outflow reveals that exchanges have witnessed a significant outflow of $213 million worth of XRP. This notable outflow has occurred over the past 48 hours, coinciding with the selling pressure faced by XRP and the broader cryptocurrency market.

Source: Coinglass

In the cryptocurrency context, “outflow” refers to the transfer of assets from exchanges to wallet addresses. Investors and industry giants, however, view this significant outflow as a potential buying opportunity, suggesting the possibility of upside momentum.

XRP Technical Analysis and Upcoming Levels

Alongside this positive market sentiment, XRP appears to be retesting its recent breakout at the $2 level and experiencing a price reversal, indicating potential upside momentum in the coming days. Based on recent price action, there is a strong possibility that the altcoin could surge by at least 30%, reaching the $2.90 level in the near future.

On a positive note, XRP’s Relative Strength Index (RSI) currently stands at 62, indicating that the asset is not in overbought territory. This suggests that XRP has sufficient room to rise significantly in the coming days.

Current Price Momentum

At press time, XRP is trading near $2.25 and has experienced a price decline of 2.5% in the past 24 hours. Despite this, the asset has shown significant recovery within the same period. Additionally, its trading volume surged by 108%, indicating increased participation from traders and investors compared to previous days.

Chandan Gupta

Chandan Gupta is a crypto analyst and news writer at CoinPedia. He specializes in market analysis using on-chain metrics and industry insights to forecast market trends. With over four years of trading experience, Chandan simplifies complex concepts in technical and on-chain analysis, making them easy to understand. At CoinPedia, he leverages his expertise to identify and present emerging opportunities in the cryptocurrency space

Recent Posts

Nvidia Says No to Crypto —Arbitrum Deal Scrapped Without Warning!

Nvidia has paused its anticipated collaboration with Arbitrum, an Ethereum Layer 2 network, just moments…

April 25, 2025

Is Bitcoin a Risk-On or Risk-Off Trading Vehicle? A Comparative Analysis of Gold and Stocks

Over the past decade, Bitcoin has emerged as a highly debated asset in the financial…

April 25, 2025

ONDO Price Surges 17% After SEC Task Force Meeting: What’s Next?

The SEC's crypto task force, led by Hester Peirce, is actively meeting with digital asset…

April 25, 2025

Roger Ver Paid $600K to Donald Trump Ally to Fight Crypto Charges

Roger Ver, once known as “Bitcoin Jesus,” is now facing serious charges, including mail fraud,…

April 25, 2025

Top Altcoins to Consider Before Bitcoin Price Revives a Rise Back to $100K

Bitcoin price is closely correlated with many altcoins that closely follow the trend. These altcoins…

April 25, 2025

Pi Network News: Here’s How a New User on OKX is Selling 3 Pi Coins for $314,159 Each

Pi Coin (PI) is currently trading at $0.65, up slightly by more than 1% at…

April 25, 2025