Darkfost reports whales withdrew over 231 million XRP from Binance, worth more than $335 million, during XRP’s 70% rally. Egrag Crypto identifies $0.98 as a critical XRP level while seeking c
XRP has recorded whale withdrawals as analysts track a two-month bullish engulfing pattern near a major price bottom. Analyst Darkfost said whales withdrew more than 231 million XRP from Binance in one day. Analyst Egrag Crypto identified $0.98 as a critical level while watching for confirmation from a two-month close.
https://twitter.com/egragcrypto/status/2092577195193503894?s=20Darkfost reported that XRP whale outflows from Binance reached their highest level in six months. The withdrawals exceeded 231 million XRP, worth more than $335 million in one day.
Notably, the 90-day average stands near $40 million, making the latest outflow much larger than the recent average. The withdrawals came as XRP's market capitalization increased by $44 billion within three days.
During that period, XRP gained more than 70%, according to Darkfost. The analyst linked the withdrawals with accumulation among whale holders.
Egrag Crypto is tracking a bullish engulfing structure on XRP's two-month timeframe. He said similar structures near major bottoms have often left the extreme low intact. However, the analyst said the pattern does not prevent XRP from retesting lower levels.
Instead, he identified $0.98 as the major low that could already have formed. Egrag Crypto also noted XRP rarely recovers its seven-week moving average on its first attempt. According to his analysis, the recovery often takes two or three candles. However, Egrag Crypto said XRP still needs a strong two-month close.
The two analysts are focusing on separate measures while examining XRP's latest move. Darkfost is tracking exchange withdrawals and whale activity, while Egrag Crypto is watching price structure.
Egrag Crypto expects October through December to provide a stronger expansion window. XRP's market capitalization rose $44 billion in three days. At the same time, Binance whale withdrawals reached a six-month high.
Darkfost said sustained accumulation could support a test of $2. Egrag Crypto, however, continues to place importance on $0.98 and confirmation from the two-month timeframe.
The post XRP Whale Outflows Hit Six-Month High as Rally Surges appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
