$300 Million Worth Of XRP On The Move – Where Are They Headed?

The XRP market is experiencing a new wave of large transactions as long-term holders adjust their ￰0￱ $300 million worth of XRP has recently been moved from crypto exchanges, signaling a shift in investor ￰1￱ such withdrawals often suggest accumulation, current on-chain data present a mixed picture, indicating both opportunity and ￰2￱ Reading: Bitcoin Near Breaking Point As It Tests Its Most Crucial Support Line—Analyst Over $300 Million XRP Exit Crypto Exchanges According to on-chain data from Glassnode, investors have withdrawn more than 140 million XRP, valued at approximately $309 million, from crypto ￰3￱ the same time, XRP’s Long-Term Holder Net Unrealized Profit/Loss (LTH NUPL) chart has revealed a more complex ￰4￱ recent exchange withdrawals indicate a potential accumulation trend, suggesting that investors have begun buying XRP and are likely moving it into their respective ￰5￱ the earlier wave of selling by long and short-term holders, this renewed accumulation could serve as a brief respite from the downward pressure.

Notably, the LTH NUPL indicator has declined and is now approaching critical levels around ￰6￱ area has been identified as a historical threshold where market optimism tends to give way to ￰7￱ previous cycles, a drop below the 0.5 level has often led to XRP price corrections, as long-term holders began selling and securing ￰8￱ cycle appears no ￰9￱ LTH NUPL decline indicates that many long-term investors may be entering a distribution ￰10￱ the bullishness of large-scale withdrawals, the underlying market sentiment remains cautious. A major reason for this could be the widespread liquidation events that occurred in the crypto market over the past few weeks.

Earlier, on October 10, the XRP price flash crashed below $1 but retraced back above $2 within 24 hours after $19 billion was wiped out from the ￰11￱ November 3, the crypto market experienced another bleed, with about $1.4 billion liquidated in a single ￰12￱ the market recovers slowly, so does ￰13￱ price is currently up 4.78% after falling more than 16% over the past month, according to ￰14￱ Price Eyes $8 Target If Key Support Holds In a separate analysis, pseudonymous crypto analyst ‘Cantonese Cat’ has shared a bullish outlook using Fibonacci Extensions to project XRP’s next move and long-term ￰15￱ the monthly chart, XRP is testing the 0.886 Fib level near $2.25—a critical support area that has previously served as a foundation for major upward ￰16￱ Cat argues that as long as this level remains intact, XRP’s next impulse could target the 1.272 Fibonacci Extension around $8.29, representing a 260% increase from current levels above $2.3.

Related Reading: ‘Sell Your House, Clothes And Buy XRP’ — Solana Exec’s Wild Advice Goes Viral The chart also shows earlier resistance near $3.31, aligning with the 1.0 Fib ￰17￱ XRP successfully reclaims this zone, it could confirm its bullish ￰18￱ subsequent extensions, highlighted by the analyst at $13.38 (1.414 Fib) and $26.63 (1.618 Fib), represent potential long-term target zones if momentum ￰19￱ image from Storyblocks, chart from TradingView