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

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. The XRP market is experiencing a new wave of large transactions as long-term holdersadjust their positions. Over $300 million worth of XRP has recently been moved from crypto exchanges, signaling a shift in investor sentiment. While such withdrawals often suggest accumulation, current on-chain data present a mixed picture, indicating both opportunity and caution. Related Reading Bitcoin Near Breaking Point As It Tests Its Most Crucial Support Line—Analyst 3 days ago Over $300 Million XRP Exit Crypto Exchanges 

According to on-chain data from Glassnode, investors have withdrawnmore than 140 million XRP, valued at approximately $309 million, from crypto exchanges. At the same time, XRP’s Long-Term Holder Net Unrealized Profit/Loss (LTH NUPL) chart has revealed a more complex backdrop. 

The recent exchange withdrawals indicate a potential accumulation trend, suggesting that investors have begun buying XRPand are likely moving it into their respective wallets. Given 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 NUPLindicator has declinedand is now approaching critical levels around 0.5. This area has been identified as a historical threshold where market optimism tends to give way to weakness. In previous cycles, a drop below the 0.5 level has often led to XRP price corrections, as long-term holders began selling and securing profits.

This cycle appears no different. The LTH NUPL decline indicates that many long-term investors may be entering a distribution phase. Despite 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. XRPUSD currently trading at $2.29. Chart: TradingView

Earlier, on October 10, the XRP price flash crashedbelow $1 but retraced back above $2 within 24 hours after $19 billion was wiped out from the market. On November 3, the crypto market experienced another bleed, with about $1.4 billion liquidatedin a single day. As the market recovers slowly, so does XRP. Its price is currently up 4.78% after falling more than 16% over the past month, according to CoinMarketCap.  XRP Price Eyes $8 Target If Key Support Holds

In a separate analysis, pseudonymous crypto analyst ‘Cantonese Cat’ has shareda bullish outlook using Fibonacci Extensions to project XRP’s next move and long-term trajectory. On 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 moves. 

Cantonese Cat argues that as long as this level remains intact, XRP’s next impulsecould 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 1 day ago

The chart also shows earlier resistance near $3.31, aligning with the 1.0 Fib level. If XRP successfully reclaims this zone, it could confirm its bullish structure. The 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 continues. 

Featured image from Storyblocks, chart from TradingView