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

WazirX Latest News: Secret UAE Filing Shows Complete Stake Transfer

It’s been nearly a year since one of India’s biggest crypto debacles left users blindsided.…

June 27, 2025

Crypto News Today : Friday’s Bitcoin, Ethereum Options Expiry Could Trigger a Volatility Storm

The second quarter of 2025 has been kind to Bitcoin. Since April 1, the market…

June 27, 2025

“0.1 BTC May Soon Be Worth More Than a U.S. Home” Says Binance Founder Changpeng Zhao

If owning a home in the US is the only dream you have, think again!…

June 27, 2025

Only 2 Days to Pi2Day: Will Pi Network Price Hit $1?

The Pi community is bracing for what could be the biggest moment for the network.…

June 27, 2025

Why Pi Coin Price is Down Today?

Pi Network Latest News: Pi Coin price is facing volatility ahead of the most awaited…

June 27, 2025

Why Is XRP Price Down Today?

Crypto prices today are largely moving sideways, with several altcoins slipping into the red. Among…

June 27, 2025