Over $300 Million XRP Withdrawn From Crypto Exchanges

The XRP market is witnessing significant movements as long-term holders shift their positions.

Over $300 million worth of XRP has been withdrawn from exchanges, indicating a possible accumulation trend.
This withdrawal suggests investors are moving XRP into personal wallets after a period of selling pressure by both long and short-term holders.
The Long-Term Holder Net Unrealized Profit/Loss (LTH NUPL) is nearing critical levels around 0.5, a historical threshold for potential price corrections.
Recent events include a flash crash below $1 on October 10, with XRP prices rebounding above $2 within 24 hours.
The crypto market experienced a significant liquidation event on November 3, affecting XRP price stability.

XRP Price Analysis

Pseudonymous analyst ‘Cantonese Cat’ projects a bullish outlook for XRP using Fibonacci Extensions.
XRP is testing a critical support level at the 0.886 Fib near $2.25, which could lead to an upward move targeting $8.29 if maintained.
Resistance is noted near $3.31, aligned with the 1.0 Fib level; surpassing this could confirm a bullish structure.
Long-term targets include $13.38 (1.414 Fib) and $26.63 (1.618 Fib) if momentum continues.