XRP has seen significant movement recently, with nearly 35 million XRP recorded in exchange outflows over the past 24 hours, marking the sixth-largest daily outflow this year, according to Santiment. Such large outflows typically indicate that investors are transferring tokens to private wallets, thereby reducing the immediate supply available for trading. Historical patterns suggest that these spikes often precede price rallies, with earlier instances this year leading to rebounds of 20% and 48% in XRP.
Additionally, US-based spot XRP ETFs have experienced three consecutive weeks of net inflows, totaling approximately $82.88 million, pushing total assets under management to $1.1 billion. This trend signals a growing institutional interest in XRP products. Furthermore, positive whale flow dynamics indicate larger wallets are accumulating XRP, which historically precedes stronger price movements.
Market professionals should closely monitor XRP’s technical structure, as the cryptocurrency is currently positioned within a falling wedge pattern. A successful rebound could target the $1.87–$1.89 range by June, representing a potential 30% upside, while a break below the wedge’s lower trend line could signal a bearish shift.
Source: cointelegraph.com