XRP, the native token of Ripple Labs, is once again demonstrating its strength as its price continues to surge. On February 19, 2025, the asset experienced a remarkable recovery, with a 6.5% increase from $2.51 to $2.65 within the past 24 hours.
Shift in Market Sentiment
The recent price surge and the overall market recovery have caught the attention of crypto enthusiasts, leading to increased accumulation of XRP tokens and bullish sentiment, as reported by the on-chain analytics firm Coinglass.
$75 Million Worth XRP Outflow
The current market sentiment seems to present an opportune moment for buyers, as evidenced by a significant outflow of $75 million worth of XRP tokens from various exchanges in the last 24 hours. This substantial withdrawal suggests a potential accumulation phase by investors and long-term holders, coinciding with XRP showing signs of a price reversal from its upward trendline since the beginning of February 2025.
XRP Technical Analysis and Upcoming Level
According to CoinPedia’s technical analysis, XRP is forming an ascending triangle pattern on the four-hour timeframe and is approaching the resistance level at $2.80, also known as the neckline. This pattern, combined with the current market sentiment and bullish investor activity, indicates that XRP could potentially reach this level. Furthermore, if the positive market sentiment persists, XRP might even reach $3.30 in the future.
At present, XRP is trading around $2.65, marking a 6.5% increase in the last 24 hours. Concurrently, its trading volume has surged by 11%, signaling increased participation from traders and investors in the market.
Overall, the recent price surge, coupled with the shift in market sentiment and bullish investor activity, paints a promising picture for XRP’s future performance. As the asset continues to show strength and resilience, it remains poised for further growth and potential price appreciation in the coming days.