The breakout above $2.12 should have been a reason to celebrate for XRP. It marked a clear breach of a resistance level that had been capping all recent significant rebound attempts — almost textbook in its technicality. However, traders are not necessarily feeling relaxed; instead, they are approaching this breakout with caution.
The current uncertainty surrounding this move is due to the fact that it is so tightly compressed and more responsive to shifts in buyer demand than previous breakouts. While hype undoubtedly plays a role, what fuels this uncertainty is that such breakouts are relatively rare.
