TLDR:
- XRP exchange outflows reached 13.24 million tokens around 01:00 UTC on Thursday, according to Santiment.
- Large XRP holders increased their combined balances by approximately 60 million tokens over the past week.
- XRP is potentially forming an inverse head-and-shoulders pattern, with the $1.60 neckline in focus.
- A confirmed breakout above $1.60 could open the way toward the analyst’s next target of $2.10.
XRP exchange outflows rose sharply on Thursday, according to data from Santiment. Roughly 13.24 million XRP left exchange wallets around 01:00 UTC.
At the same time, large holders added to their balances over the past week. Meanwhile, the daily chart shows XRP forming a possible inverse head-and-shoulders pattern.
Analysts are watching a move toward the $1.60 neckline. A break above that level would confirm the pattern and bring $2.10 into view.
XRP Exchange Outflows and Whale Buying Draw Attention
Market analyst Ali Charts shared the data in a five-part post on X. He pointed to Santiment figures showing a spike in XRP exchange outflows.
According to the post, about 13.24 million XRP moved off exchanges near 01:00 UTC. Moreover, the analyst noted that this movement may reduce the supply available for immediate sale.
Santiment data also showed growth among the largest holders of the token. Their combined holdings rose by roughly 60 million XRP over the past week.
Ali Charts said he could not confirm whether those coins are the same ones that left exchanges. Even so, he described both metrics as signs of rising interest from large holders.
The thread opened with a message urging traders to buy XRP before a possible breakout. The first post had drawn about 34,000 views by Thursday evening.
Ali Charts then used the next posts to present the on-chain data. After that, he turned to the technical setup on the daily chart.
The two on-chain readings come from different data points. One tracks exchange balances, while the other tracks large wallet holdings.
Santiment supplied both figures in the charts attached to the thread. As a result, the posts relied on a single data source for the on-chain case.
Inverse Head-and-Shoulders Pattern on the Daily Chart
The fourth post turned to the daily chart for XRP. Ali Charts stated that the token appears to be forming the right shoulder of an inverse head-and-shoulders bottom.
The pattern is described as potential, since it remains incomplete. Therefore, the analyst treated it as a setup rather than a confirmed reversal.
The analyst is watching a move toward the neckline at $1.60. A break above that resistance would confirm the pattern, according to his post. In that case, the next price target in focus would be $2.10. Until then, the neckline remains the level to watch.
Ali Charts closed the thread by combining both sets of signals. He said XRP exchange outflows and whale accumulation are building the bullish case. The chart, however, will decide whether the setup becomes a breakout. He did not offer a timeline for the move.
Thursday’s data places XRP exchange outflows alongside rising whale balances and a developing chart pattern. Each reading comes from the thread and the Santiment figures attached to it.
The post does not claim that a breakout has started. Instead, it points to the $1.60 neckline as the next test for the token.
