Ripple’s (XRP) price has surged back to $0.60, recording a 7.74% gain in the last 24 hours. This rally aligns with a broader market recovery, making XRP the top gainer among the top 10 cryptocurrencies.
According to CryptoQuant, Whale-to-Exchange Transactions have fallen significantly, indicating that whales are withdrawing XRP, a bullish sign. The number of transactions dropped from 664 to 60, showing whales' reluctance to sell XRP.
While large transactions on centralized exchanges decreased, DEX volume jumped by 28% in the last 24 hours, indicating on-chain demand for XRP. High DEX volume is a positive liquidity indicator.
Technical indicators like the Parabolic Stop And Reverse (SAR) and Exponential Moving Averages (EMAs) suggest that XRP's upward trend could continue, potentially reaching $0.65. However, any increase in whale activity on CEXes could invalidate this optimistic outlook.
