XRP outflows reach $76 mln – Will this push the altcoin to $3.20?

• Exchanges have witnessed an outflow of $76 million worth of XRP.
• Intraday traders betting long are over-leveraged at $2.44 and have held $120 million worth of long positions.

XRP, the native token of Ripple Labs, seems to be recovering after experiencing a notable price drop in recent days.

The recovery began as the asset’s price reached a crucial ascending trendline support, which has been holding since the beginning of February 2025.

Apart from the price reversal area, another reason behind the price recovery is the shift in market sentiment across all cryptocurrencies.

With this shift, investors and traders are once again jumping into the market with a positive attitude, as revealed by the on-chain analytics firm Coinglass.

$76 million worth of XRP outflow 

Data from the Spot Inflow/Outflow revealed that exchanges across the cryptocurrency landscape have witnessed an outflow of a significant $76 million worth of XRP tokens in the past 24 hours.

This currently appears to indicate potential accumulation, which could create buying pressure and drive further upside momentum.

Source: Coinglass

Besides this, yesterday, when XRP was struggling, a crypto whale from Gemini moved 20 million XRP tokens worth $50.65 million to a wallet.

Since then, the price has stabilized, holding its crucial inclined support level. However, the wallet address remains unknown.

$120 million worth of bets on the long side

In addition to whales’ and investors’ continuous participation and interest in the asset, traders are also following the same trend.

Data from Coinglass shows that intraday traders holding long positions are currently dominating the asset, as they are over-leveraged at the $2.44 level and have built $124 million worth of long positions at this level.

Source: Coinglass

XRP’s current price momentum and price action 

With this bullish market sentiment and traders’ and investors’ positive attitude, XRP was trading near $2.61 after experiencing a price surge of 1% in the past 24 hours.

However, during the same period, its trading volume jumped by 11%, indicating heightened participation compared to the previous day.

According to AMBCrypto’s technical analysis, XRP has begun moving upward after successfully retesting its support from the ascending trendline.

Based on recent price action, if XRP holds above the $2.50 level, there is a strong possibility it could soar by 22% to reach the $3.20 level in the future.

Source: TradingView

However, the asset’s price is still trading below the 200 Exponential Moving Average (EMA) in the four-hour time frame, indicating that XRP remains in a downtrend, which currently may not impact traders and investors.