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Home Markets Crypto Market

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

Chandan Gupta by Chandan Gupta
April 3, 2025
in Crypto Market
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rewrite this title Time to buy XRP?  million of Asset Outflow from Exchanges
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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.

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