Key Highlights
- XRP has declined 10.5% across a three-day period but maintains support above the bull flag breakout zone between $1.40 and $1.45
- South Korean investors are removing XRP from Upbit at unprecedented levels, echoing historical accumulation behavior
- Large holder flows have flipped positive for the first time since the beginning of 2024, indicating potential accumulation by whales
- The Federal Reserve maintained its 3.5%–3.75% interest rate range on March 18, creating headwinds for risk-oriented assets like cryptocurrencies
- XRP spot ETFs listed in the United States reported no net flows on Wednesday, while total cumulative inflows remain at $1.21 billion
XRP currently trades within the $1.42–$1.45 range following a significant three-day retracement exceeding 10%. While this decline mirrors broader cryptocurrency market weakness, multiple blockchain indicators suggest a potential foundation for recovery.
This price correction follows last week’s breakout above a bull flag formation. From a technical perspective, bull flags emerge when an asset consolidates within a descending channel following a powerful upward move. Following a breakout above this channel, assets frequently retest the previous resistance as new support — a scenario that appears to be unfolding currently.
Critical support resides in the mid-$1.40 area, which aligns with the 20-day exponential moving average. Should XRP maintain levels above this threshold, the bull flag’s projected target reaches approximately $1.70–$1.72, representing roughly 20% upside from present values.
Unprecedented Korean Exchange Withdrawals
Blockchain analytics from CryptoQuant reveal a significant spike in XRP withdrawals from South Korea’s Upbit platform beginning in December 2025. Wallet holders across virtually every size category have been extracting XRP from the exchange at unprecedented volumes. Reduced exchange balances generally indicate diminished immediate selling pressure.
Blockchain analyst CW identified comparable withdrawal patterns between 2021 and early 2023, when heightened Korean exchange outflows aligned with an accumulation phase. This period preceded XRP’s surge from under $1 to beyond $3 — representing approximately 500% gains.
As of Thursday, XRP trading pairs denominated in South Korean Won ranked fourth globally by 24-hour trading volume on CoinMarketCap.
Large Holder Flows Turn Bullish
XRP’s 90-day average whale flow metric has shifted into positive territory for the first time following an extended negative period throughout 2024 and into early 2025. During the negative phase, large-scale holders consistently distributed their holdings. This recent reversal suggests that aggressive selling by whales may be moderating.
A comparable transition occurred between April and September 2025, when XRP appreciated from approximately $2.20 to $3.55.
From a macroeconomic perspective, the Federal Reserve maintained its current interest rate range of 3.5%–3.75% during its March 18 meeting, pointing to persistent inflation concerns and geopolitical uncertainties. Financial markets interpreted this stance as restrictive. The CMC Crypto Fear and Greed Index registered 29 at press time, reflecting heightened fear sentiment.
Institutional engagement remains limited. US-listed XRP spot ETFs registered zero net inflows on Wednesday. Total assets under management currently stand at approximately $1.02 billion, compared to cumulative inflows of $1.21 billion.
According to liquidation data from CoinGlass, significant liquidity concentration exists around the $1.35 level. A breakdown below current support could activate forced liquidations within that zone.
On the four-hour timeframe, XRP exhibited a bearish MACD crossover near the $1.54 resistance threshold. Bulls require a recapture of $1.50 to restore upward momentum, with $1.55 representing the subsequent key level before a potential advance toward $1.60.
