XRP is attracting fresh bullish attention after on-chain data showed more than 25 million tokens moved off trading platforms following the largest exchange inflow of 2026.
The development has strengthened XRP price prediction sentiment, with traders assessing whether the recent sell-off marked a local market bottom.
Data shows that 22.8 million XRP flowed onto exchanges on May 28, marking the largest single-day exchange inflow of the year, according to insights shared by Santiment on May 31.
The inflow to exchanges typically signaled rising selling pressure and coincided with the token dropping to a 15-week low.
However, sentiment quickly shifted as Santiment data showed 25.24 million XRP moved off exchanges between May 29 and May 30, surpassing the earlier inflow and pointing to renewed accumulation.
The reversal in exchange flows has been accompanied by a roughly 5% recovery in XRP’s price, suggesting some investors may have used the recent weakness to increase their holdings after retail traders exited near the local bottom.
Notably, exchange flows are a key gauge of market sentiment, with inflows often signaling potential selling pressure and outflows pointing to accumulation.
The recent withdrawal from exchanges, coupled with a price rebound and support holding at $1.34, suggests a cautiously bullish short-term outlook for XRP.
XRP price prediction
Meanwhile, regarding the price outlook, cryptocurrency analyst Ali Martinez in an X post on May 31 highlighted the importance of the $1.34 level, which aligns with the lower boundary of a rising channel on XRP’s one-hour chart.
The analysis shows XRP trading within an upward-sloping channel after rebounding from recent lows.
According to Martinez’s analysis, holding above the channel support could provide the foundation for another leg higher.
As of press time, XRP was trading at $1.34, just above the critical support zone. If buyers successfully defend the $1.34 level, the next upside targets are positioned around $1.37 and $1.40, corresponding with the channel’s mid-range and upper resistance areas.
The broader structure remains constructive as long as XRP continues to respect the ascending channel. A sustained move above $1.37 could strengthen bullish momentum and increase the probability of a test of the $1.40 level.
