Based

bullish

Million

Momentum

<p>In this bleeding cryptocurrency market, XRP, the native token of Ripple Labs, seems to have controlled itself from a major price decline as it holds crucial support. For XRP, the support at $2.20 plays an important role. Since the beginning of December 2024, the altcoin has reached this level more than four times, and each time it has experienced an upside rally.</p>   
<p>However, this time, sentiment appears to be similar, as the price has started moving upward.</p>   
<h2 class="wp-block-heading" id="h-long-term-holders-rising-interest-in-xrp"><strong>Long-Term Holders Rising Interest in XRP</strong></h2>   
<p>The current market sentiment appears negative, as the market has witnessed a significant $1.18 billion in <a href="https://coinpedia.org/news/is-mt-gox-behind-1-18-billion-crypto-liquidations-heres-what-happened/">crypto liquidations</a>. This substantial liquidation has created fear among traders and investors, discouraging them from staying and participating in the asset.</p>   
<h3 class="wp-block-heading" id="h-220-million-of-xrp-outflow-nbsp"><strong>$220 Million of XRP outflow&nbsp;</strong></h3>   
<p>Despite the fear, traders and long-term holders seem optimistic about XRP, as they have purchased millions worth of tokens during this price decline, according to the on-chain analytics firm <a href="https://www.coinglass.com/currencies/XRP" target="_blank" rel="noreferrer noopener nofollow">Coinglass</a>. Data from XRP spot inflow/outflow reveals that exchanges have witnessed a continuous and significant outflow of $220 million worth of XRP.</p>   
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/12/20075306/image-136.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/12/20075306/image-136-1024x288.png" alt="" class="wp-image-395315"></a>
 <figcaption class="wp-element-caption">
  Source: Coinglasss
 </figcaption>
</figure>   
<p>This outflow indicates a bullish outlook for XRP despite the ongoing price decline, as long-term holders continue to believe in the token. This explains why exchanges are experiencing substantial token outflows.</p>   
<p>In the cryptocurrency context, “outflow” refers to the movement of assets from exchanges to long-term holders' wallets, signaling a potential upside rally and an ideal buying opportunity.</p>   
<h2 class="wp-block-heading" id="h-xrp-technical-analysis-and-upcoming-levels"><strong>XRP Technical Analysis and Upcoming Levels</strong></h2>   
<p>According to CoinPedia’s technical analysis, XRP appears bullish as the price is showing signs of a reversal from the crucial support level of $2.20. Based on the recent price action, the altcoin is near the buying zone, where it has typically experienced an upside rally.</p>   
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/12/20075236/XRPUSDT_2024-12-20_07-52-26.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/12/20075236/XRPUSDT_2024-12-20_07-52-26-1024x448.png" alt="" class="wp-image-395314"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure>   
<p>If XRP holds the $2.20 support level, there is a strong possibility it could soar by 13% to reach the next resistance level of $2.50 in the near future. On the other hand, if XRP falls below the support level and closes a daily candle below the $2.20 level, we could see XRP dropping to $2 or even lower in the future.</p>   
<h3 class="wp-block-heading" id="h-current-price-momentum"><strong>Current Price Momentum</strong></h3>   
<p>At press time, XRP is trading near $2.30 and has experienced a price surge of over 2.70% in the past 24 hours. During the same period, its trading volume increased by 7%, indicating heightened participation from traders and investors.</p>

Will XRP Go Up After $220M Outflow? Bullish Trends Explained

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