While the cryptocurrency market is experiencing an earthquake, the massive exit from #Ripple ($XRP ) has raised concerns.
Despite the decline in the cryptocurrency market, Ripple’s native token XRP has managed to hold its critical support level. The $2.20 range plays an important role for XRP. Additionally, the exit of $220 million of Ripple from cryptocurrency exchanges has confused investors.
According to Coinglass data, traders and long-term investors have bought millions of dollars worth of XRP during the price drop. Spot XRP in/out data reveals that $220 million worth of tokens have left exchanges.
This exit provides a positive outlook for Ripple despite the price decline. Long-term investors continue to grow their savings by maintaining their faith in the popular altcoin.
In the world of cryptocurrencies, the term “exit” refers to the transfer of assets from exchanges to long-term investors’ portfolios. Breakouts typically indicate a price spike and an ideal buy offer.
Ripple, which managed to hold $2.20 despite a sharp drop in $BTC and $ETH , continues to give positive signals. Based on the recent price action, the major coin seems to be in an uptrend at the moment. Especially with ETH recovering, Ripple could see significant gains.
If #XRP can hold the $2.20 level, the price could rise by 13 percent and reach $2.50 in the short/medium term. On the other hand, if it falls below this support level and closes below $2.20, a pullback to $2 could occur.
