XRP’s latest price swings are one of the hottest topics right now, with one closely followed analyst urging caution despite a burst of buying activity from Korean traders.
Trader View said it was not issuing many updates because “nothing meaningful has happened yet,” but stressed that XRP needs to reclaim its monthly rVWAP, which it has failed to hold for almost 2 months.
The analyst believes a recovery above that threshold could send the asset back into the $2.40 range, improving XRP’s structure and hinting at a potential trend shift.
Meanwhile, order books are unusually clear, suggesting that whichever side stays aggressive at current levels is likely to dictate direction. Trader View warned that a drop back below $2.00 would “sound the alarm” and risk ending the year-long consolidation.
The analyst’s comments followed another market observer’s note that Korean retail buyers were driving most of today’s demand, with Kraken trailing in second place. At the same time, major U.S. exchanges showed little urgency.
Alongside the technical picture, CryptoQuant reveals that Binance’s XRP reserves have been falling steadily since early October, now sitting at one of the exchange’s lowest readings at 2.7 billion XRP.
Roughly 300 million XRP has moved off Binance since October 6. Analysts say the withdrawals, likely reflecting investors shifting coins to private wallets, point to growing long-term conviction.
With XRP’s new U.S. spot ETFs attracting early institutional interest, a shrinking exchange supply could create a more favourable environment if inflows continue.
Moreover, CoinMarketCap data shows XRP slipped 0.6% in the last 24 hours to $2.10. The token slightly underperformed both the general crypto market and Bitcoin, weighed down by a sharp slowdown in network activity, a break below key moving averages, and cooling ETF momentum.
Source: https://zycrypto.com/is-xrp-going-to-10-like-key-players-anticipate-prominent-xrp-proponent-speaks/
