The post XRP traders eyes on 30% rally, Here’s what on-chain data says appeared on BitcoinEthereumNews.com.

Journalist Posted: February 13, 2025 Traders were over-leveraged at $2.399 on the lower side and $2.50 on the upper side.  On-chain metrics revealed that exchanges have witnessed an outflow of $75.55 million worth of XRP tokens. It has been a week since Ripple [XRP] started consolidating at a crucial level, which could determine whether the asset will rally or decline in the coming days. In this make-or-break situation, XRP is gaining significant attention from crypto enthusiasts, leading to its stability at a critical level despite the ongoing market sell-off. $75 million worth of XRP outflow The asset has maintained its current level due to the continuous accumulation and withdrawal of XRP tokens from exchanges, as reported by the on-chain analytics firm Coinglass. Data from Spot Inflow/Outflow revealed that exchanges have witnessed an outflow of $75.55 million worth of XRP tokens since the beginning of the price consolidation. Source: Coinglass This substantial outflow from exchanges hints that potential accumulation could create buying pressure and further upside momentum. However, some believe this data also signals an ideal buying opportunity. Traders holding long positions are dominating Besides long-term holders’ bullish outlook, intraday traders are also betting on an upside rally. Data reveals traders holding long positions are dominating, with over-leveraged positions at $2.399, totaling $24.55 million. Meanwhile, $2.50 is the nearest over-leveraged level, where traders hold $15.77 million worth of short positions. Source: Coinglass When combining these on-chain metrics, it appears that bulls are strongly dominating. This is occurring while XRP is receiving crucial support from an ascending trendline, which has a history of significant price reversals. Experts currently expect a similar reversal from the asset. XRP price action and key levels  According to AMBCrypto’s technical analysis, XRP appears bullish and is currently consolidating within a narrow range between the $2.28 and $2.51…

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Filed under: News - @ February 13, 2025 8:27 pm