{"id":818053,"date":"2025-01-08T03:12:05","date_gmt":"2025-01-08T09:12:05","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/01\/08\/time-to-buy-xrp-60-7m-in-xrp-outflow-from-exchanges-amid-crash\/"},"modified":"2025-01-08T03:12:05","modified_gmt":"2025-01-08T09:12:05","slug":"time-to-buy-xrp-60-7m-in-xrp-outflow-from-exchanges-amid-crash","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/01\/08\/time-to-buy-xrp-60-7m-in-xrp-outflow-from-exchanges-amid-crash\/","title":{"rendered":"Time to Buy XRP? $60.7M in XRP Outflow from Exchanges Amid Crash"},"content":{"rendered":"
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\"XRP<\/figure>\n<\/div>\n
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XRP, the native token of Ripple Labs, is poised for a massive price decline as it fails to hold a crucial support level. Despite this bearish outlook, long-term holders appear to be accumulating the tokens and seem to be taking advantage of the recent price decline, as reported by the on-chain analytics firm Coinglass.<\/p>\n

XRP Fails to Hold Bullish Outlook<\/strong><\/h2>\n

Before this crash, the overall market sentiment appeared bullish<\/a>, with XRP seeming poised for a mega rally. However, the recent price decline has shifted the overall market sentiment, including for XRP.<\/p>\n

On January 2, 2024, XRP broke out from a bullish flag-and-pole price action pattern and subsequently moved into a consolidation zone, which the altcoin maintained for four trading days. However, the recent price crash has breached XRP\u2019s consolidation zone and suggests a major price decline in the near future.<\/p>\n

Amid this price decline, whales and long-term holders appear to be accumulating the asset, as reported by the on-chain analytics firm Coinglass<\/a>. Data from spot inflow\/outflow reveals that exchanges have witnessed an outflow of a significant $60.7 million worth of XRP in the past 24 hours.<\/p>\n

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Source: Coinglass<\/figcaption><\/figure>\n

In cryptocurrency, outflow refers to the movement of assets from exchanges to wallets, which is often seen as a sign of accumulation. Additionally, outflows may indicate a potential buying opportunity and the possibility of an upside rally.<\/p>\n

Current Price Momentum<\/strong><\/h3>\n

Currently, XRP is trading near $2.30 and has experienced a price decline of 4.9% in the past 24 hours. During the same period, its trading volume surged by 85%, indicating heightened participation from traders and investors compared to the previous day.<\/p>\n<\/div>\n

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\n Chandan Gupta<\/p>\n","protected":false},"excerpt":{"rendered":"

XRP, the native token of Ripple Labs, is poised for a massive price decline as it fails to hold a crucial support level. Despite this bearish outlook, long-term holders appear to be accumulating the tokens and seem to be taking advantage of the recent price decline, as reported by the on-chain analytics firm Coinglass. XRP<\/p>\n","protected":false},"author":1,"featured_media":818054,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[54984,136834],"tags":[],"class_list":{"0":"post-818053","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-exchanges","8":"category-outflow"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/818053","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=818053"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/818053\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/818054"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=818053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=818053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=818053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}