This fake breakout hit hard 😱! A few days ago $XRP
finally managed to break above the 1.28 resistance, and many were still expecting a big rally. But then the market was hit by a massive sell-off. It plunged below 1.2 and 1.185, hitting a more than two-month low. It crashed 9.5% in 24 hours, making it one of the worst performers among the top altcoins.
The market-wide crash was the main culprit: #BTC plunged from 81,000 all the way to 75,000, dragging a host of altcoins down with it. Interestingly, while whales have been quietly accumulating and tokens have continued flowing out of exchanges, XRP ETFs have seen virtually no trading demand lately. With no fresh capital coming in to keep the momentum going, this rally fizzled out completely.
finally managed to break above the 1.28 resistance, and many were still expecting a big rally. But then the market was hit by a massive sell-off. It plunged below 1.2 and 1.185, hitting a more than two-month low. It crashed 9.5% in 24 hours, making it one of the worst performers among the top altcoins.
The market-wide crash was the main culprit: #BTC plunged from 81,000 all the way to 75,000, dragging a host of altcoins down with it. Interestingly, while whales have been quietly accumulating and tokens have continued flowing out of exchanges, XRP ETFs have seen virtually no trading demand lately. With no fresh capital coming in to keep the momentum going, this rally fizzled out completely.