Ripple (XRP) Price Could Reach $10 if this Binance Trading Signal Persists – Crypto News – Crypto News
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Ripple (XRP) Price Could Reach $10 if this Binance Trading Signal Persists – Crypto News

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Can The XRP Price Reach $10,000 Following XRP’s Inclusion In Strategic Reserve?

XRP price climbed 14% on Wednesday clawing back half of the losses booked when Trump announced tariffs on Monday. On-chain data trends suggest the majority of those who acquired XRP in the last 24 hours are opting to hold long-term. Could the thinning market supply send XRP price rallying towards $20?

Ripple (XRP) rebound 14% as Trump Administration Hints Are Tariff Easing

Ripple (XRP) volatility starting March 2025 extended into Tuesday. Since the start of the month XRP has failed to establish directional momentum as contrarian market catalyst counteracted.

Ripple (XRP) Price Action
Ripple (XRP) Price Action

On Tuesday, the US secretary of commerce hinted that Trump could ease tariffs levied on Canada and Mexico.

Anticipating a lesser inflationary impact, traders flooded the crypto markets with buy orders.

Notably, investors directed considerable attention towards the five assets handpicked for in trump’s crypto strategic reserves.

As seen above Ripple price rose 14% on Wednesday, moving from the $2.20 lows recorded on Tuesday to reclaim the $2.50 level at price time.

XRP Deposits on Binance Plunge by 25 Million This Week, Signaling Bullish Whale Activity

While XRP price stagnated at the $2.50 resistance on Wednesday, recent on-chain data suggests that bears may struggle to exert downward pressure.

Transaction flows on Binance indicate that whale investors capitalized on the recent market dip to accumulate large volumes of XRP and transfer significant amounts into long-term storage.

Ripple (XRP) Deposits on Binance | Source: CryptoQuant
Ripple (XRP) Deposits on Binance | Source: CryptoQuant

Validating this stance, the CryptoQuant chart above shows that XRP deposits on Binance surged past 2.9 billion on March 2.

However, since then, a notable withdrawal of 25 million XRP has reduced total exchange deposits to 2.87 billion as of March 5. At current prices, the withdrawn tokens are valued at approximately $500 million.

When exchange deposits decline during a market dip, it typically signals that most active traders are moving their assets from trading wallets into cold storage or other long-term holdings.

This suggests increased confidence among long-term holders, reducing the available supply of XRP on exchanges and setting the stage for a potential supply squeeze.

Can XRP Price Reach $10?

Institutional investors, known for their sophisticated trading strategies, frequently use encrypted cold storage to secure large holdings. This trend could contribute to a sustained reduction in XRP’s exchange supply, potentially fueling a long-term price rally.

Furthermore, speculation surrounding institutional adoption—including potential XRP ETFs and the possibility of the U.S. Treasury adding XRP to its strategic reserve—could further reduce the supply of XRP available for trading on exchanges.

If these macroeconomic catalysts materialize, the resulting supply squeeze could drive XRP toward the highly anticipated $10 price level.

Technical Analysis: $3 Breakout Ahead if Key Support Levels Hold

XRP price remains cautiously neutral after failing to reclaim the $2.50 resistance level, with conflicting signals emerging from technical indicators.

The Bollinger Bands suggest volatility compression, as the price fluctuates between the midline at $2.4976 and the lower band near $2.0616.

A decisive move above the upper band at $2.9337 could open the door for a breakout rally toward $3.00, while rejection at current levels risks further downside.

XRP price forecast | XRPUSD
XRP price forecast | XRPUSD

The Relative Strength Index (RSI) at 49.19 hovers in neutral territory, indicating a balance between buyers and sellers.

However, its proximity to the 50 threshold suggests that momentum could tilt in either direction.

If XRP price climbs above $2.50 with increasing volume, the RSI could confirm a bullish resurgence, reinforcing buying pressure.

Conversely, a drop below 43.37 on the RSI could signal renewed bearish momentum, pushing price toward the psychological $2.00 support.

The Parabolic SAR dots below the price action indicate an ongoing attempt at trend reversal, but the asset must hold above $2.30 to maintain this bullish structure.

Failure to do so may trigger another wave of liquidations, potentially driving price back into the $2.00-$2.03 demand zone.

If bulls defend this level, XRP could regain strength and target the $3.00 breakout.

The post Ripple (XRP) Price Could Reach $10 if this Binance Trading Signal Persists appeared first on CoinGape.

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