bullish

Parabolic

Gains

<ul>
 <li>XRP price surges eyeing $0.60, leading gains among top 10 cryptocurrencies.</li>
 <li>Whale-to-Exchange transactions drop, suggesting reduced selling pressure.</li>
 <li>Technical indicators point to potential further gains, with $0.65 as next target.</li>
</ul>
<a href="https://thenewscrypto.com/?s=Ripple" target="_blank" rel="noopener noreferrer nofollow">Ripple’s</a> XRP has staged a remarkable comeback, eyeing the $0.60 threshold for the first time in ten days and emerging as the top gainer among the cryptocurrency elite.
This surge over the past 24 hours not only aligns with a broader market recovery but also raises intriguing questions about XRP’s ability to sustain this newfound momentum.
<h2 class="wp-block-heading" id="h-xrp-whale-data-shows-a-dramatic-decrease">XRP whale data shows a dramatic decrease</h2>
CryptoQuant data reveals a dramatic tenfold decrease in Whale-to-Exchange Transactions since August 18, a metric that typically gauges large-scale movement between whales and exchanges, particularly Binance.
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="576" src="https://thenewscrypto.com/wp-content/uploads/2024/08/image-69-1024x576.png" alt="" class="wp-image-106064" srcset="https://thenewscrypto.com/wp-content/uploads/2024/08/image-69-1024x576.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/08/image-69-300x169.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/08/image-69-768x432.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/08/image-69-376x212.png 376w, https://thenewscrypto.com/wp-content/uploads/2024/08/image-69.png 1536w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Source:&nbsp;<a href="https://cryptoquant.com/asset/xrp/chart/exchange-flows/whale-to-exchange-transactions?exchange=binance&amp;window=DAY&amp;sma=0&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=line" target="_blank" rel="noopener noreferrer nofollow">CryptoQuant</a>
 </figcaption>
</figure>
This precipitous drop from 664 transactions on Sunday to a mere 60 at present suggests a significant reduction in selling pressure from major <a href="https://thenewscrypto.com/?s=XRP" target="_blank" rel="noopener noreferrer nofollow">XRP </a>holders, potentially underpinning the token’s recent price appreciation.
While centralized exchange (CEX) activity has waned, decentralized exchanges (DEXs) have witnessed a contrasting surge, with transaction volumes jumping 28% in the last day.
This shift indicates a notable increase in on-chain demand for XRP and potentially signals heightened user engagement on the XRP Ledger. The spike in DEX volume, a crucial liquidity indicator, bodes well for XRP’s price stability and could fuel further upward momentum if sustained.
From a technical perspective, the Parabolic Stop And Reverse (SAR) indicator paints an optimistic picture for XRP’s short-term trajectory. With the indicator’s dotted lines positioned below the price, a continuation of the current uptrend appears likely.
Complementing this bullish signal, the coin’s price currently trades above both the 20-day and 50-day Exponential Moving Averages (EMAs), further reinforcing the positive trend.

Ripple (XRP) Surges, Eyes $0.60, Leading Gains Among Top 10 Coins

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