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XRP, the native token of Ripple Labs, is once again showing strength as its price continues to soar. On February 19, 2025, the asset witnessed an impressive recovery, surging 6.5% from $2.51 to $2.65 in the past 24 hours.
Shift in Market Sentiment
This price jump and the ongoing market recovery seem to be gaining attention from crypto enthusiasts, leading to the accumulation of XRP tokens and bullish bets, as reported by the on-chain analytics firm Coinglass.
$75 Million Worth XRP Outflow
The current market sentiment appears to present an ideal buying opportunity, which might explain the significant withdrawal of assets in the past 24 hours. Data from spot inflows and outflows reveal that exchanges across the cryptocurrency landscape have witnessed a substantial outflow of $75 million worth of XRP tokens, indicating potential accumulation.
This bullish activity by investors and long-term holders occurred as the asset began showing signs of a price reversal from the ascending trendline that XRP has followed since the beginning of February 2025.
XRP Technical Analysis and Upcoming Level
According to CoinPedia’s technical analysis, XRP appears to be forming an ascending triangle pattern on the four-hour timeframe and is currently approaching the resistance level, or neckline, at $2.80.
With the current market sentiment and bullish investor activity, XRP could easily reach this level. Additionally, if market sentiment remains unchanged, XRP could hit $3.30 in the future.
Currently, XRP is trading near $2.65 and has surged over 6.5% in the past 24 hours. However, during the same period, its trading volume jumped by 11%, indicating heightened participation from traders and investors.