Ripple Price Forecast: XRP edges up as selling pressure subsides amid whale net outflows

• The broader crypto market recovery and improving risk appetite lift XRP towards $1.30.
• At 696 million XRP, cumulative whale net outflows across several exchanges have surged, potentially reducing near-term selling pressure.
• Strengthening momentum indicators support XRP’s prospects for a lasting recovery.

With cumulative whale net outflows reaching 696 million XRP, Ripple (XRP) trades slightly higher near $1.30 on Wednesday as the wider crypto market recovers. The advance coincides with the United States (US) midterm elections, where the Democratic Party has secured victory in the Senate and is on course to take control of Congress.

Following the Binance hack-driven sell-off that took Bitcoin (BTC) to a six-week low near $76,000, the cryptocurrency remains above $78,000, with signs that its recovery could persist.

Although the short-term path of least resistance appears to favour further gains, XRP needs to reclaim key structural levels, including major moving averages, before it can move onto firmer ground.

Surging whale net outflows ease selling pressure

By Wednesday, cumulative whale net outflows measured across several cryptocurrency exchanges had reached 696 million XRP, compared with 399 million XRP on 28 October. The sharp rise in withdrawals amounts to a 74.5% increase over the last seven days.

If exchange outflows persist, they can draw down XRP reserves and limit the supply readily available for spot sales, potentially relieving selling pressure.

CryptoQuant also reports that the XRP Whale vs Retail Spread on Binance jumped to 98.4% on Tuesday, the highest level since 15 October 2024. That compares with 65.1% across all centralised exchanges.

These measures alone, however, do not establish a strong and lasting source of support for XRP’s recovery over the coming sessions. They should be assessed alongside key technical indicators and patterns of retail and institutional demand.

Technical analysis: XRP buyers strengthen their hold

Despite trading above $1.29, XRP retains a bearish near-term bias beneath a cluster of Exponential Moving Averages (EMAs) and the SuperTrend line. With the pair just below the Bollinger Bands’ middle boundary around $1.30, resistance remains close to the prevailing price. Further overhead, the 50-day, 100-day and 200-day EMAs stand at $1.34, $1.32 and $1.37, respectively, reinforcing the view that the market is still in a corrective phase.

The momentum picture remains uneven: Moving Average Convergence Divergence (MACD) has edged into positive territory, while the Relative Strength Index (RSI) sits near 46. Together, these readings suggest that upward pressure is improving but remains fragile.

The Bollinger middle band near $1.30 presents the first resistance, ahead of the 100-day EMA at $1.32 and the 50-day EMA at $1.34. Should XRP close above these levels on a daily basis, the next upside targets would be the Bollinger upper band at $1.36, followed by the 200-day EMA at $1.37. The SuperTrend line near $1.40 poses a more substantial obstacle to a lasting recovery. Conversely, the next significant support area is the Bollinger lower band around $1.23. A break beneath it would be likely to revive bearish momentum and leave XRP vulnerable to further losses over the coming days.

(The technical analysis of this story was written with the help of an AI tool. Know more.)