XRP spot flows jump 182%, but not a sign of accumulation

XRP spot flows rose 182% over a short period, sharply increasing the amount of XRP moving through exchanges, U.Today reported, citing CoinGlass data. The outlet added this did not necessarily signal aggressive accumulation, as the metric pointed to a sharp increase in trading activity by both buyers and sellers, while net spot flows remained mixed. U.Today also said XRP was still trading below its 50-day, 100-day and 200-day moving averages, indicating it had yet to break out of a longer-term bearish trend. Although a modest upward trendline has recently formed, buying pressure has not yet shown enough strength to produce a decisive breakout. The outlet added selling pressure was likely to persist on each rebound attempt unless the price reclaimed the 50-day moving average in the $1.11-$1.12 range.