Benzinga verify icon

3h
...

XRP Consolidates For Three Days After 9% Breakout: What’s Going On?

XRP (CRYPTO: XRP) holds flat Tuesday, compressing between two Fibonacci levels for a third straight day after the June 15 breakout, while ETF inflows resume and top traders stay aggressively long.

Post-Breakout Compression Is Healthy, Not A Reversal Signal

XRP has spent three days coiling between the 0.5 Fibonacci level at $1.2071 and the 0.618 Fib at $1.2440. 

The 20 EMA at $1.2081 is holding as active support with the SAR firmly bullish at $1.0716. Three consecutive days of consolidation above the 20 EMA after a breakout is constructive price action, not a failed move.

Derivatives confirm the digestion is healthy rather than deteriorating. Volume dropped 33.42% and open interest sits…

Read more on Benzinga

1.3K Reads