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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.