$XRP 15m Rising +0.99%, closing at the upper edge of the most recent 20 5-minute candles. The active buy/sell ratio is 1.30. Trade value divergence is +13.2%, volume is 1.36x, and volatility Z is only 1.63.
What’s interesting is that OI is dropping in sync: 15m -0.53%, 1h -0.91%. The footprint of short covering pushing the move looks heavier than the footprints of new longs entering. The notional change ranks #7 in the whole pool, with an abnormal percentile of 66.5%—not huge, but not small either.
In the past 24h, turnover is 2010M. Depth is already there. Under these liquidity conditions, a breakout like this is a bit more appealing than a fake breakout in a colder pool. But since OI isn’t keeping up, before chasing longs, it’s still best to see how long this short-covering can hold up.
What’s interesting is that OI is dropping in sync: 15m -0.53%, 1h -0.91%. The footprint of short covering pushing the move looks heavier than the footprints of new longs entering. The notional change ranks #7 in the whole pool, with an abnormal percentile of 66.5%—not huge, but not small either.
In the past 24h, turnover is 2010M. Depth is already there. Under these liquidity conditions, a breakout like this is a bit more appealing than a fake breakout in a colder pool. But since OI isn’t keeping up, before chasing longs, it’s still best to see how long this short-covering can hold up.
