XRP, Ripple Labs' native token, is garnering massive attention from crypto enthusiasts and is poised for a significant upside rally following the formation of bullish price action. Additionally, a prominent crypto expert noted on February 8, 2025, that XRP appears poised for a rebound.
Buy Signals for XRP
The post on X mentioned that a technical indicator, TD Sequential, is flashing a buy signal for the token. However, this prediction emerged after a 25% continuous price drop that XRP experienced over the past few days.
$18 Million Outflow of XRP
According to analytics firm Coinglass, traders and investors have shown strong interest in the token. Data from spot inflow/outflow indicates that exchanges have witnessed an outflow of significant $18 million worth of XRP tokens, suggesting accumulation by large investors and long-term holders.
$32.10 Million Bet on Price Decline
Despite long-term investor interest, intraday traders are betting on the bearish side, believing XRP's price won't experience upside momentum. Coinglass data shows that traders holding short positions are over-leveraged at $32.10 million.
The current situation around XRP remains ambiguous: on one hand, there's considerable interest from large investors, while on the other, significant activity from traders betting on price decline. At its current price of around $2.42, market adjustments could determine the token's future dynamics.
