- XRP has recorded over $300 million in outflows in April, with red days far outpacing green.
- The token briefly rose above $2.05 but failed to hold support, now trading around $2.13.
- Analysts warn of a possible dip to $1.40 before any long-term bullish targets are revisited.
XRP is experiencing significant market turbulence this April, recording over $300 million in outflows amid mounting selling pressure and weak buying momentum. According to Coinglass data, more red days than green have plagued the asset since the start of the month. Despite brief rallies, the overall sentiment remains cautious as investors seek exits during minor price jumps.
As of Sunday, XRP has only posted four positive net flow days out of 13, totaling $56.08 million in inflows. Meanwhile, the other nine days have seen outflows reaching $311 million. This imbalance indicates that sellers are firmly in control, with buyers yet to reclaim dominance in the market.
April’s highest outflow day was recorded on April 6, when XRP saw $90 million leave the market. Though significant, this is still lower than January and March, which recorded daily outflows as high as $150 million. The trend suggests some cooling in sell pressure but not enough to reverse overall direction.
The XRP price briefly climbed above the $2.05 resistance level over the weekend, offering bulls a short-lived victory. However, that upside was quickly capped, and XRP failed to establish support above $2.20. A high of $2.24 was followed by a drop to $2.13, where the asset trades at press time, marking a 0.51% daily decline.
Related: Coinbase Derivatives Set to Launch XRP Futures on April 21
The current market cap stands at $124.28 billion, also down by 0.51%, while 24-hour trading volume has risen by 25.44% to $4.5 billion . The increase in trading activity reflects ongoing volatility and market uncertainty as traders react to short-term price movements.
Despite these headwinds, some analysts believe a rebound is still possible after one more dip. Crypto analyst Egrag Crypto, known for his bullish outlook on XRP, suggests the asset may fall to $1.40 before reversing. He has outlined long-term targets of $7.50, $13, and even $27.
For now, XRP’s near-term outlook remains tied to broader market sentiment and its ability to shake off persistent outflows. If the red days continue to outpace green ones, the price may come under further pressure. Until buyers regain confidence, XRP’s upward momentum could remain limited through the rest of April.
