Following the Bybit hack, sentiment across the crypto market has shifted completely toward a bearish phase, weakening assets. Amid this, XRP, the native token of Ripple Labs, has once again neared a crucial support level from the ascending trendline, which it has been testing since the beginning of February 2025.
Considering the current market sentiment and XRP’s outlook, the token appears to have absorbed all the bearish pressure and is now recovering.
XRP Technical Analysis and Upcoming Levels
According to expert technical analysis, as the XRP price reached the trendline support of $2.50 level a significant buying pressure was observed resulting in the formation of a bullish candlestick pattern. Besides this, the recent price drop has not affected XRP’s past ascending triangle price action pattern which it has formed.
Based on recent price action, if XRP holds above the $2.50 level, there is a strong possibility that the asset could soar significantly in the coming days and maintain its bullish momentum. However, if the token fails to hold this level and closes a four-hour candle below $2.45, a massive price drop could occur, potentially pushing XRP down to the $1.90 level.
Despite the ongoing price recovery, the asset remains below the 200 Exponential Moving Average (EMA), indicating that it is still in a downtrend.
Current Price Momentum
With these key levels in focus, XRP is currently trading near $2.58, having dropped over 3.75% in the past 24 hours. However, despite the decline, investors and traders have shown strong interest in the token, leading to a 44% increase in participation.
$21.50 Million Worth XRP Outflow
Data from the on-chain analytics firm Coinglass revealed that this rise in participation is driven by significant investor accumulation of XRP tokens. Spot inflow/outflow data showed that as the price dropped, exchanges witnessed a substantial outflow of $21.50 million worth of XRP tokens, indicating potential accumulation.
Combining this potential accumulation with price action, the current level appears to be an ideal buying opportunity, with $2.50 or $2.45 serving as a potential exit level if sentiment shifts toward the bearish side.
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