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The recent performance of XRP has captured the attention of traders and investors alike, amid predictions of further price surges and increased accumulation.
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Many analysts believe that the sustained interest from long-term holders could fuel a continued upward trend, despite recent corrections.
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CoinGlass noted, “The renewed accumulation signals potential bullish sentiment surrounding XRP, especially among institutional investors.”
XRP experiences a promising rally as long-term holders return, with $84 million outflows suggesting potential for further gains and bullish sentiment.
Overall Interest in Ripple’s XRP Accelerates
On January 11, XRP displayed a remarkable breakout from a bullish flag and pole pattern, suggesting strong market sentiment. Following this breakout, the cryptocurrency entered a consolidation phase but soon achieved a significant 30% upside rally. This rally underscored a clear trend of renewed interest among long-term holders who initially bought XRP at lower prices.
As reported by CoinGlass, there was a marked increase in long-term holder activity on January 18, indicating that many who had previously sold during the rally are now taking advantage of the current market consolidation.
Heavy XRP Outflows Indicate Market Accumulation
Recent data from CoinGlass revealed
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