$XRP sees $288 mln outflow – Sign of a price surge? - AMBCrypto Analytics

Despite ongoing price corrections, XRP remains a focus for whales and investors, according to Coinglass. The token recently surged by 370% over the past month, driving increased interest and prompting long-term asset withdrawals. However, trader sentiment remains neutral, awaiting a decisive breakout.

Currently, the XRP Long/Short Ratio stands at 0.98, reflecting slightly bearish sentiment. With 50.8% of top traders holding short positions and 49.2% holding long positions, the market appears divided.

Technical analysis by AMBCrypto reveals that XRP has broken an inclined trendline on the hourly chart but faces resistance at $2.47. A daily close above $2.50 could trigger an 18% rally, pushing the price to $2.90.

Encouragingly, XRP is trading above the 200 EMA on multiple time frames, signaling an uptrend. Additionally, the RSI sits at 40, near the oversold zone, suggesting room for a potential rally.

As XRP approaches key resistance levels, traders should monitor these metrics for signs of a breakout. Could this be the moment XRP investors are waiting for?