11 Million XRP Leaves Upbit: What This Means for the Market According to market commentator Xaif Crypto, approximately 11 million $XRP, valued at around $31.7 million, has recently moved out of the Upbit exchange into a private wallet. This significant transfer has sparked speculation across the crypto community, raising questions about potential market implications and investor intentions. Large-scale withdrawals like this are often interpreted as a bullish signal. When investors move crypto assets from exchanges to private wallets, it typically indicates a long-term holding strategy rather than a short-term trade. In other words, holders are less likely to sell immediately, which can reduce available supply on exchanges and potentially support price stability or growth. Xaif Crypto highlights a growing trend of institutions and high-net-worth investors taking control of their XRP by moving coins off exchanges. This reduces counterparty risk while signaling strong confidence in XRP’s future, aligning with expanding liquidity and staking opportunities that offer investors new ways to earn passive returns. Private wallet transfers often signal strategic activity, such as staking, DeFi participation, or liquidity moves. With XRP Ledger innovations like mXRP and growing decentralized finance adoption, these transfers increasingly reflect proactive engagement. XRP Rebounds, Sets Up Bullish Double-Bottom Pattern Amid Key Support Test According to market analyst Lingrid, XRP has staged a notable rebound, reacting strongly to demand at the IMB trendline cluster and successfully breaking its descending guide. The move has formed a clean double-bottom pattern, a classic technical indicator signaling potential trend reversal and renewed upside momentum. The recent price action shows XRP climbing in a tight stair-step formation, methodically retesting the previously broken trendline as support. Lingrid emphasizes that maintaining key support between $2.76 and $2.82 is critical to keeping the bullish reversal intact. A breach below this range would reopen the door to $2.68, signaling a potential short-term pullback. XRP’s upside target comes into focus once it breaks the $2.94–$3.00 resistance. Clearing this zone could drive momentum toward $3.15–$3.25, signaling a critical trend confirmation. Lingrid highlights that this shift favors a series of higher lows, pointing to a healthier upward structure. Notably, XRP’s double-bottom at a critical trendline signals weakening selling pressure and strong buyer support. Its measured stair-step climb reflects a controlled recovery, favoring traders who value structural stability over short-term spikes. Presently, market sentiment is cautiously optimistic. XRP’s steady hold on support and gradual break through resistance signal a potential trend reversal. A sustained move above $2.94 could confirm the next leg up toward $3.25, offering investors a clear cue for upward momentum with the current price being $2.85. Conclusion The movement of 11 million $XRP from Upbit to a private wallet is more than just a number, it’s a reflection of investor strategy and confidence. While the immediate market reaction may vary, the trend suggests a maturing investor base and growing belief in XRP’s long-term potential. Meanwhile, XRP’s rebound from the IMB trendline cluster, coupled with a clean double-bottom and stair-step climb, signals bullish continuation. Maintaining $2.76–$2.82 is key, while breaking $2.94–$3.00 could ignite the next leg toward $3.15–$3.25. The focus on higher lows highlights a healthy structure for sustained gains, marking a crucial milestone for momentum-driven investors.
