XRP Rally Nears? Traders Turn Aggressive as Bears Lose Grip

XRP, the fourth-largest cryptocurrency by market capitalization, is showing signs of a bullish rebound after a prolonged bearish phase.

The price is currently trading around $2.04, with a market cap of $123.23 billion, marking a 0.1% increase and a 12.72% rise in 24-hour volume to $4.11 billion.

A significant support level was identified around $1.75, where 1.80 billion XRP tokens were previously accumulated, establishing a strong foundation for potential price recovery, according to a tweet by ali_charts on X .​

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Traders Eye Key Support Amid Momentum Shift

XRP's recent price action reveals the formation of a bullish Morning Star candlestick pattern near the $1.85 support, signaling that the downtrend may be fading.

Market momentum is supported by the Average Directional Index (ADX) moving above 34.08, indicating strong directional strength.

However, the Chaikin Money Flow (CMF) remains slightly negative at -0.07, reflecting ongoing selling pressure despite the price uptick.

This mixed technical backdrop suggests cautious optimism among traders and investors.​

Exchange Reserves Decline, Whale Activity Increases

Data from CryptoQuant highlights a decline of 3 million XRP tokens in Binance reserves, down to approximately 2.74 billion XRP, one of the lowest levels in nearly a year.

This reduction usually signals accumulation as holders transfer tokens from exchanges to private wallets.

Additionally, derivative platform CoinGlass reports rising bets on long positions around major liquidation levels at $2.006 (support) and $2.072 (resistance), with $22.55 million in over-leveraged long positions and $10.39 million in shorts.

This intense activity underscores increased trader aggression, pushing XRP closer to a possible breakout.​

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