Key Insights:

• XRP trades at $1.36 near support, with markets watching closely for a break above $1.40 resistance.
• Over 31 million XRP moved to Binance in one day, led by large holders activity.
• Crypto funds saw $288M outflows, while XRP recorded modest inflows against broader market trend.

XRP is showing early signs of recovery after trading near a strong support zone. The cryptocurrency has been trending down over the past weeks. Market analysts note that if buyers maintain this level, the token could see a slow upward movement.

The live token price stands at $1.36 USD with a 24-hour trading volume of $3.52 billion. The token is down 2.29% in the last 24 hours. Observers say the market is watching closely for a potential break above the $1.40 level.

Market Focus on Support and Resistance Levels

XRP has been following a downtrend, but the recent support near $1.35 may prevent further declines. Analyst BitGuru points to a strong support zone around current levels as a potential turning point. A break above the $1.40 level could attract further buying interest.

Traders are closely monitoring the asset’s price movement to gauge market sentiment. If support holds, analysts say the asset may slowly recover and move to higher levels. 

A sustained move above the $1.40 resistance level could confirm renewed buying strength and improving market sentiment. This may increase the likelihood of further upside momentum toward the $1.50 price level if trading volume supports the breakout.

Strong Inflows Indicate Whale Activity as XRP Defies Market Outflows

Meanwhile, over 31 million XRP flowed into Binance in a single day, according to CryptoQuant data. The inflows were mainly led by large holders with balances ranging from 100,000 to over 1 million XRP.

CoinDesk reported that this movement shows that whale activity remains active despite the wider market downtrend. Analysts note that large transfers to exchanges often signal potential market moves.

Based on TheCryptoBasic, Crypto funds have recorded $288 million in outflows for the fifth straight week, while the token saw modest inflows. Bitcoin and Ethereum experienced combined outflows exceeding $250 million during the same period.

Regional trends show the United States led with $347 million in withdrawals. Meanwhile, Switzerland, Canada, and Germany received more than $50 million in combined inflows. Analysts said the token’s movement is unusual compared to other major cryptocurrencies.

Source: https://coincu.com/analysis/xrp-early-recovery-signs-break-above-1-40/

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