$XRP spent three weeks getting rejected by the same falling line. Today it stopped asking politely. The daily candle opened at $1.5361, ran to $1.5955 and is holding $1.5699 at the time of writing, up 2.20% on the session. More importantly, it did that by closing above the descending trendline that has capped every rally attempt since the late August spike to $1.70.
XRP chart in USDWhy Did The XRP Price Break Out Today?
Three things lined up on the daily.
- The descending trendline drawn from the August high finally gave way. Price had been compressing against it since early September, with each rejection landing a little higher. That is textbook coiling, and coils resolve.
- The $1.50 level flipped. It acted as resistance through the entire September range, capping the mid-month push. XRP is now trading above it with room to spare, which turns the old ceiling into the first line of defence.
- The 200 EMA a...
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