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XRP sees signs of accumulation, but will it be enough to breach $2.3?
Spot buyers have taken the reins in XRP’s recent price action, with a slew of positive metrics on the horizon. However, this might not be enough to prevent a short-term dip.
Since May 2025, exchange reserves have been consistently decreasing, indicating that capital outflows from exchanges have slowed down significantly. This is an indication of accumulation by spot buyers. Additionally, the Network Value to Transactions (NVT) ratio has taken a downward turn lately, implying that XRP’s token utility may be undervalued when compared to its market cap.
Furthermore, data suggests that the asset saw a slight edge in capital outflows from exchanges on June 5th, which hints at increased accumulation. It is worth noting that these outflows were heavier in May, but they have noticeably diminished in strength since then.
Despite spot buyers dominating the scene based on the three-month CVD, XRP’s price has remained stuck within a range.
Source: ambcrypto.com
