XRP price holds the ‘best stock zone’ as Wells pulls $170M from Binance
XRP (XRP) is trading in a key “price zone” where whales will soon hit $170 million, indicating a tightening of liquidity.
Main Receptors:
XRP whales have withdrawn 122 million XRP, worth $170.8 million, from Binance, indicating strong reserves near the $1.35-$1.40 support zone. Exchange flow and fixed position XRP ETF inflows are strengthening liquidity and growing investor interest in XRP.XRP may have resistance from $5 to $23. A big step forward.
122 million XRP will leave the Binance exchange
XRP whale withdrawals, large withdrawals of more than 1 million coins per transaction, reached 122 million on Binance on May 22, worth $170.8 million at the moment, according to CryptoQuant data.
This marked the first daily withdrawal of more than 100 million XRP since the 278 million XRP seen in early February.
“What makes the recent activity even more important is the price context,” said CryptoQuant analyst Amr Taha. he said. In the Monday Quicktake post.
Note that the February 9 breakout occurred when XRP was trading around $1.43, while the May 22 contact came with XRP at around $1.35.
“This makes the $1.35-$1.40 range an important zone to watch for XRP,” the analyst said in another Quicktake post:
“Repeated withdrawals in the same price range may indicate that some of the larger players view this area as a value zone.”
XRP: Whale exits exchanges. Source: CryptoQuant
This coincided with high exchange flows, because the net position change of XRP to – $ 30 million on Sunday, the price since April 9, when the price was sold at $ 1.28, has a very negative value. This was before it went up 17% to $1.51 on April 17.
XRP: Exchange net spot change
Such flows often indicate strong holdings by large holders, adding tokens to cold storage or exposure to XRP investment products, thereby reducing immediate sell-side pressure.
Meanwhile, demand for XRP ETFs in the US-based space continues as these investment products have recorded 16 consecutive days of positive inflows totaling $116.75 million. This shows the consistency of interest from US investors, adding to XRP's tailwind.
Spot ETH ETFs Flowchart. Source: SoSoValue
XRP price should hold $1.30 as support.
The XRP/USD pair has been trading in a tight range between $1.30 and $1.50 since early February.
The XRP bullishness is now holding $1.30 as support if it “gets another chance to retest the $1.50 resistance,” Chart Nerd analyst said. he said. Recently in X.
“$1.30 is a safe bet for now,” the analyst added.
“If it goes away, a deeper cut to the low $1 territory is likely in the coming weeks.”
XRP/USD Daily Chart. Source: X/ChartNerd
As the chart below shows, the altcoin traded in a multi-year range between May 2022 and November 2024. Finally, a break above the upper limit of the range at $0.68 ushered in a more than 400% rally to $3.40 in January 2025.
If the XRP/USD pair holds within the current range, a similar upward move could be seen after a critical move above the $1.50 upper limit supported by strong volume.
XRP/USD Three Day Chart. Source: Cointelegraph/Trading view
Bollinger Bands from mid-2024 are still very tight. Similar events have previously driven the price of XRP upwards by 58%-82%, as shown in the chart above.
As such, XRP could rise as high as $2.33 if a similar crash occurs.
Analyst Crypto Patel described the current range as “the best accumulation zone”, adding that the muted price action in 2018
The analyst has an upside target at $10, with roughly 7x potential from the lower end of the bullish range if XRP repeats the 2022–2024 cycle-type expansion.
XRP/USD two week chart. Source: X/Crypto Patel
According to Cointelegraph reportedIf the breakeven resistance at $1.40-$1.50 is not broken, the price will continue to strengthen.
