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$XRP
It transfers to Binance have increased sharply, raising questions about possible selling pressure in the short term. According to CryptoQuant’s latest findings, around 1.6 billion tokens flowed into the exchange over the past 30 days.
This is the highest 30-day inflow recorded since March.
Inflows Rise, as Futures Stay Strong
Large amounts of $XRP moving to an exchange can be a warning sign. Traders often send tokens to exchanges when they plan to sell. However, the inflow alone does not confirm that selling has taken place, CryptoQuant explained in its post.
Bulls Target $1.62
Ali Martinez is taking a more positive view of $XRP’s chart. In a recent post, the analyst said the crypto asset appears to have broken above the descending resistance line of a triangle pattern on the four-hour chart. The move could be a sign that buyers are starting to gain some ground.
Martinez is now watching the $1.50 level closely. If $XRP can hold that area as support, he sees room for the price to move toward $1.62.
$XRP
It transfers to Binance have increased sharply, raising questions about possible selling pressure in the short term. According to CryptoQuant’s latest findings, around 1.6 billion tokens flowed into the exchange over the past 30 days.
This is the highest 30-day inflow recorded since March.
Inflows Rise, as Futures Stay Strong
Large amounts of $XRP moving to an exchange can be a warning sign. Traders often send tokens to exchanges when they plan to sell. However, the inflow alone does not confirm that selling has taken place, CryptoQuant explained in its post.
Bulls Target $1.62
Ali Martinez is taking a more positive view of $XRP’s chart. In a recent post, the analyst said the crypto asset appears to have broken above the descending resistance line of a triangle pattern on the four-hour chart. The move could be a sign that buyers are starting to gain some ground.
Martinez is now watching the $1.50 level closely. If $XRP can hold that area as support, he sees room for the price to move toward $1.62.