The post XRP holds critical support at $2.50, Time to buy? appeared on BitcoinEthereumNews.com.

On-chain metrics revealed that exchanges have seen outflows of XRP worth $29.5 million Traders seemed to be over-leveraged at $2.52 on the lower side, and $2.63 on the upper side Despite market uncertainty, XRP has been projecting some strength on its price charts. In fact, it is now garnering significant attention from crypto enthusiasts due to its bullish price action. The timing here is interesting, especially since less than 24 hours ago, Bybit was hacked and $1.4 billion in cryptos drained. As expected, this triggered multi-million-dollar liquidations and a sharp market decline across the board.  XRP price momentum Like the rest of the market, XRP’s value fell after news of the exploit broke out. And yet, at the time of writing, the altcoin seemed to be recovering somewhat. Its rate of depreciation slowed down over the last 24 hours. At press time, the altcoin was trading near $2.60, following a 3% price drop in the last 24 hours.  On the contrary, investor and traders’ interest surged, resulting in a 47% hike in trading volume.  It can be speculated that this uptick in participation was driven by increasing optimism associated with the idea of Spot XRP ETFs being approved in the near term.  XRP’s price action According to AMBCrypto’s analysis, XRP appeared bullish on the charts as it formed an ascending triangle pattern on the four-hour timeframe. At press time, the altcoin’s price was holding support at the ascending trendline and the horizontal level of $2.50. Historical data also revealed that whenever XRP touches its trendline, it tends to gain upside momentum. For instance – The last time the crypto hit the $2.50-mark, it surged by 10%. XRP price prediction and technical analysis A look at the prevailing price momentum revealed that XRP formed a bullish engulfing candlestick pattern at the…

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Filed under: News - @ February 23, 2025 3:11 am