XRP Might Be Primed for Rapid Breakout

utoday

May 10

XRP, one of the leading cryptocurrencies by market cap, has managed to decouple from the broader market in a blow to those who expected the controversial Ripple-linked token to keep languishing ...

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However, for this to happen, XRP bulls have to gain a strong foothold above the $1.45 level.  \"Let me make it very simple. Over $1.45 aream things can move very fast. Acceptance above, not just peaking,\" the commentator said. The magic price levelFor months, the $1.40 to $1.45 region has acted as an extremely dense resistance zone. This area is packed with historical trading activity. Millions of tokens changed hands here, which has created a thick ceiling of supply.XRP/USDTAt the same time, there is a massive gap in the volume profile stretching all the way up to the $1.80 region. Very little historical trading has taken place in this gap, so there is virtually no structural resistance.If XRP simply wicks above $1.45 and immediately falls back down (peaking), the breakout fails. However, if the daily candles begin closing and consolidating above $1.45, XRP enters the aforementioned \"void.\" Low liquidity will make it possible for the price to move upward all the way toward the next resistance. Waking up from slumberAs of now, the XRP token is finally waking up from a multi-month slumber. following a steep decline from highs above $2.30 late last year. XRP has been trapped in a choppy accumulation phase since the February bottom. The bulls have repeatedly faced harsh rejections every time it approached the $1.45 to $1.50 ceiling.Now, XRP is decisively punching through the $1.45 resistance line.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}