XRP Holds Steady, Bulls Eye $3 as Accumulation Surges

XRP, the native token of Ripple Labs, has been testing a crucial support level from an ascending trendline since early February 2025. Following the Bybit hack, the crypto market has shifted towards a bearish phase, weakening assets. However, XRP appears to have absorbed the bearish pressure and is now recovering.

Technical analysis indicates that when the XRP price reached the trendline support of $2.50, significant buying pressure was observed, resulting in the formation of a bullish candlestick pattern. The recent price drop has not affected XRP's past ascending triangle price action pattern. 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, XRP remains below the 200 Exponential Moving Average (EMA), indicating that it is still in a downtrend. Currently, XRP is trading near $2.58, having dropped over 3.75% in the past 24 hours. However, investors and traders have shown strong interest in the token, leading to a 44% increase in participation.

Data from 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 towards the bearish side.