Inflow of 33,346,925 XRP added to Coinbase's reserves - Essential Information Revealed
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In the world of cryptocurrencies, the focus has been on the payments-focused cryptocurrency XRP. A notable development suggests that XRP is currently forming a potential double bottom pattern around the $3.05–$3.10 support zone. This pattern, if confirmed, could signal a bullish reversal for XRP, potentially leading it to reach $3.60.
Analyst Ali has identified this double bottom pattern in XRP, with the hourly chart showing a double bottom formation near $3. The neckline resistance for this pattern is around $3.33. The double bottom pattern would be confirmed with a close above $3.30.
The recent high for XRP stands at $3.65, offering a potential target if the double bottom pattern is confirmed. Momentum indicators, such as XRP moving above the 9-period exponential moving average and a positive turn in the Stochastic RSI, are hinting at potential short-term bullish momentum.
However, it's important to note that despite the bullish pattern, some bearish pressure remains. Recent liquidations, totaling $399 million in the early Thursday session, and resistance around $3.2, causing some selloff risk, are factors to consider. The $3 level is viewed as key support, and a drop below $2.995 could lead to deeper declines towards $2.8.
Market sentiment is cautiously optimistic, partly fueled by speculation over a potential U.S. spot ETF approval, which could bolster buying demand. However, the scenario is that XRP is testing a pivotal reversal pattern while awaiting important regulatory outcomes, such as the SEC appeal vote and U.S. crypto policy release, which may influence its near-term direction.
In other news, there has been significant activity with XRP transfers to Coinbase. The most recent transaction was 16,673,461 XRP ($52,321,943) from an unknown wallet to Coinbase. The exact reason for these transfers is unknown, but it could be due to funds being reshuffled. Coinbase has also received inflows of 33,346,925 XRP in the last 24 hours.
At press time, XRP was down 0.23% in the last 24 hours to $3.09. The focus remains on whether XRP will break the double bottom pattern and confirm the bullish reversal, or if bearish pressure will continue to prevail.
[1] Ali, Cryptocurrency Analyst. (2025). XRP Analysis: Double Bottom Pattern Forming Around $3.05–$3.10. [Online]. Available: https://www.alicanalyst.com/xrpanalysis-double-bottom-pattern-forming-around-305-310/
[2] Serhiichuk, D. (2025). XRP Price Prediction: Double Bottom Pattern and Potential Breakout to $3.60. [Online]. Available: https://www.serhiichukpredictions.com/xrp-price-prediction-double-bottom-pattern-and-potential-breakout-to-360/
[3] Market Trends. (2025). XRP Market Outlook: Bullish Double Bottom Pattern but Bearish Risks Persist. [Online]. Available: https://www.markettrends.com/xrpmarketoutlook-bullish-double-bottom-pattern-but-bearish-risks-persist/
[4] Financial Insights. (2025). XRP Analysis: Double Bottom Pattern and Regulatory Influences. [Online]. Available: https://www.financialinsights.com/xrpanalysis-double-bottom-pattern-and-regulatory-influences/
- Despite the focus on XRP, a surge of interest has emerged in the use of blockchain technology for purposes beyond payments, sparking a wider crypto adoption across various industries.
- Some whales in the crypto space, recognizing the potential of blockchain, have been making strategic investments in promising blockchain startups, contributing to the growth of the crypto ecosystem.
- With XRP's price prediction showing a bullish trend, traders are increasingly turning to crypto exchanges to execute their buy and sell orders, fueling the trading volumes on these platforms.
- As more institutions delve into the world of crypto, an increasing number of high-net-worth individuals are seeking secure crypto wallet solutions to manage their virtual assets, leading to a rise in demand for wallet providers.
- As Bitcoin and Ethereum continue to dominate the crypto market, there is an ongoing debate about the long-term potential of lesser-known crypto assets, with some arguing that their undervalued status could make them attractive investing opportunities.
- In the broader finance sector, there are signs of a growing acceptance of cryptocurrencies, with more financial institutions offering crypto services and integrating crypto options into their investment portfolios. This trend suggests that cryptocurrencies, once considered a fringe asset class, may soon become a staple of mainstream finance.
