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XRP spikes 2.5%, beating bitcoin and ether, in breakout above $1.45
Key takeaways
- Volume arrived all at once during the breakout, which usually points to larger positioning rather than retail chasing, though the rally started losing momentum as price approached the psychological $1.50 level.
- • Traders had been watching XRP’s tightening range for days as multiple analysts pointed to bull flag and triangle formations building beneath resistance.
- • Thin liquidity conditions across major exchanges added to expectations that any confirmed breakout could produce exaggerated moves in either direction.
Volume arrived all at once during the breakout, which usually points to larger positioning rather than retail chasing, though the rally started losing momentum as price approached the psychological $1.50 level.
• Traders had been watching XRP’s tightening range for days as multiple analysts pointed to bull flag and triangle formations building beneath resistance.
• Thin liquidity conditions across major exchanges added to expectations that any confirmed breakout could produce exaggerated moves in either direction.
Article preview — originally published by CoinDesk. Full story at the source.
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