Ripple's XRP token is witnessing significant growth amid rising prices. However, large token movements raise concerns about a potential sell-off.
80 Million XRP Moves to Binance
Over the past week, XRP's price has shown consistent growth with a 45% surge. During this period, some major investors have dumped their holdings on Binance, the world's largest cryptocurrency exchange. According to CryptoQuant, Binance's XRP reserve increased by 80 million over seven days, indicating a potential sell-off. Despite this, the XRP price remained stable, continuing to show growth.
Current Price Momentum
Currently, XRP is trading near $3.39, experiencing a price surge of over 16% in the past 24 hours. This significant price increase has drawn considerable attention from investors and traders, leading to a 45% jump in trading volume during the same period.
XRP Technical Analysis and Upcoming Level
According to expert technical analysis, XRP appears bullish as it follows the breakout of the bullish flag and pole pattern. The XRP price had been consolidating before this rally began, which is another positive signal. Based on recent price actions, there is a strong possibility that XRP could reach the $4.45 level in the coming days.
The current situation with XRP is attracting significant interest from cryptocurrency market players. Despite possible sell-offs, the growth prospects for the token remain positive.
