$XRP has just broken out of its tightest range since August. On November 3, a 15-minute candle that opened at 12:15 UTC sent it from $1.2614 to $1.2877 on Binance, and it was holding at $1.2828 at 12:49 UTC, 1.4% above the ceiling.
The chart shows that ceiling. From Saturday, October 31, until noon UTC today, XRP moved only between $1.2355 and $1.2646, a range of 2.4%. Meanwhile, $BTC fluctuated by more than 3%, and $SOL even more (99Bitcoins noted the same compression).
Here’s what accompanied the breakout, according to the Binance API. That single candle saw $12.7 million in spot volume, compared with $0.2 million to $2.2 million for each 15-minute candle between 10:00 and 12:00 UTC. On the XRPUSDT perpetual contract, open interest has risen from 315.7 million to 346.9 million XRP since midnight UTC (+9.9%), with funding steady at +0.01%. New positions, not just shorts closing.
I couldn’t find any announcement that explains the timing. Just two pieces of context: the XRPL fixCleanup3_4_0 amendment can activate no earlier than November 4 at around 14:46 UTC (33 of 35 validators, according to CoinDesk), and the 233.46 million XRP stolen from Binance had not moved as of 10:15 UTC, according to 99Bitcoins.
My take, not advice: the last comparable compression, in mid-August around $1, ended with a nearly 70% rise over four sessions, reaching $1.6999 on August 22. But a breakout during the trading session, on US midterm election day, remains fragile. The test is the 16:00 UTC four-hour close: above $1.27 (analyst Ali Martinez’s threshold), the next level cited by 99Bitcoins is $1.3308, the 200-period moving average on the four-hour chart; a move back below $1.2646 would make this a false breakout, with $1.2002 (the hack low) below that.
Are you trading this breakout now, or waiting for the four-hour close and the midterm results?
#XRP #Ripple
The chart shows that ceiling. From Saturday, October 31, until noon UTC today, XRP moved only between $1.2355 and $1.2646, a range of 2.4%. Meanwhile, $BTC fluctuated by more than 3%, and $SOL even more (99Bitcoins noted the same compression).
Here’s what accompanied the breakout, according to the Binance API. That single candle saw $12.7 million in spot volume, compared with $0.2 million to $2.2 million for each 15-minute candle between 10:00 and 12:00 UTC. On the XRPUSDT perpetual contract, open interest has risen from 315.7 million to 346.9 million XRP since midnight UTC (+9.9%), with funding steady at +0.01%. New positions, not just shorts closing.
I couldn’t find any announcement that explains the timing. Just two pieces of context: the XRPL fixCleanup3_4_0 amendment can activate no earlier than November 4 at around 14:46 UTC (33 of 35 validators, according to CoinDesk), and the 233.46 million XRP stolen from Binance had not moved as of 10:15 UTC, according to 99Bitcoins.
My take, not advice: the last comparable compression, in mid-August around $1, ended with a nearly 70% rise over four sessions, reaching $1.6999 on August 22. But a breakout during the trading session, on US midterm election day, remains fragile. The test is the 16:00 UTC four-hour close: above $1.27 (analyst Ali Martinez’s threshold), the next level cited by 99Bitcoins is $1.3308, the 200-period moving average on the four-hour chart; a move back below $1.2646 would make this a false breakout, with $1.2002 (the hack low) below that.
Are you trading this breakout now, or waiting for the four-hour close and the midterm results?
#XRP #Ripple
