XRP is poised to continue its rally, as net outflows from exchanges have soared to $288 million, indicating whale interest in the altcoin.
XRP could rally by 18% to reach the $2.90 level if it closes a daily candle above the $2.50 level., the native token of Ripple, remains under the radar of whales and investors, as reported by on-chain metrics from Coinglass.
Data showed that the XRP Long/Short Ratio was 0.98 at press time, reflecting bearish sentiment among traders. 50.8% of top traders held short positions, while 49.2% held long positions. On the positive side, the altcoin was trading above the 200 Exponential Moving Average on both lower and higher time frames, indicating an uptrend. Meanwhile, XRP’s Relative Strength Index was at 40, near the oversold zone.
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