XRP Flashes a 17% Breakout Hope But 1.5 Billion Tokens Stand in the Way
BeInCrypto
XRP shows bullish technical breakout signals, but massive supply at break-even levels poses a significant hurdle to achieving a projected 17% rally.Summary
XRP has exhibited bullish technical indicators, including a cup and handle pattern and positive RSI divergence, signaling a potential 17% price increase. However, on-chain data reveals a significant obstacle: approximately 1.57 billion XRP tokens were accumulated in the $1.41 to $1.42 price range. As holders at these levels reach break-even, they may exert selling pressure, potentially stalling the momentum. To realize the 17% gain, XRP must clear these supply clusters and close above key Fibonacci resistance levels, with the crucial neckline set at $1.551.
(Source：BeInCrypto)