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

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.