Ripple Price Forecast: XRP ticks higher as selling pressure eases amid whale net outflows

• XRP rises toward $1.30, building on growing risk-on sentiment and broader crypto market recovery.
• Cumulative whale net outflows across multiple exchanges soar to 696 million XRP, potentially easing immediate selling pressure.
• XRP eyes a sustained recovery, backed by rising momentum indicators.

Ripple (XRP) edges higher near $1.30 on Wednesday, building on a broader crypto market recovery wave. The uptick comes amid the United States (US) midterm elections, in which the Democratic Party has clinched victory in the Senate and is on track to gain control of Congress.

Bitcoin (BTC) holds above $78,000 and shows signs of a sustained recovery against the backdrop of the Binance hack-driven sell-off to a six-week low near $76,000.

The path of least resistance appears upward in the short-term, but for XRP to clear the woods, price must reposition above key structural levels, including major moving averages.

Selling pressure fades as whale net outflows surge

Cumulative whale net outflows tracked across multiple cryptocurrency exchanges highlight a significant increase in withdrawals to 696 million XRP as of Wednesday, up from 399 million XRP on October 28. This represents a 74.5% increase over the last seven days.

Sustained exchange outflows can reduce XRP reserves and the supply immediately available for spot selling, potentially easing selling pressure.

Furthermore, the XRP Whale vs Retail Spread on Binance surged to 98.4% on Tuesday, its highest reading since October 15, 2024, compared with 65.1% across all centralized exchanges, according to CryptoQuant.

Still, these metrics are not enough to confirm a strong, sustainable tailwind to support XRP’s recovery in the coming sessions. The findings should be used along with key technical indicators and retail and institutional demand patterns.

Technical analysis: XRP bulls tighten grip

XRP trades above $1.29, keeping a bearish near-term bias as price holds beneath a dense layer of Exponential Moving Averages (EMAs) and the SuperTrend line. The pair is marginally below the Bollinger Bands' middle boundary around $1.30, suggesting a key cap near the current price, while the 50-day, 100-day and 200-day EMAs at $1.34, $1.32 and $1.37, respectively, sit overhead and reinforce the notion that the market remains contained in a corrective phase.

Momentum is mixed, with the Relative Strength Index (RSI) hovering near 46 and Moving Average Convergence Divergence (MACD) turning slightly positive, which hints at improving but still fragile upside pressure.

Initial resistance lies at the Bollinger middle band near $1.30, followed by the 100-day EMA at $1.32 and the 50-day EMA at $1.34. A daily close above these levels would open the way toward the Bollinger upper band at $1.36 and then the 200-day EMA at $1.37, with the SuperTrend line near $1.40 marking a stronger barrier to any sustained recovery. On the downside, the Bollinger lower band around $1.23 is the next meaningful support zone, and a break below it would likely re-energize bearish momentum and expose deeper losses in the days ahead.

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