Xrp breaks out The coin has been trading in a clear descending channel since last week after pulling back from as high as $1.80 dollars per coin, a position that made long term holders take some of their profits after the coin has risen more the 100% in this year alone. It is this sell off that caused a liquidity shortage in the market resulting in the descending channel that puts the coin on a red hanger sale which grants retail traders with the opportunity to fill up the market with liquidity in order to push price to the upside. This is why we see structures such as the double bottom on the liquidity zone.. These are clear signs that liquidity is being filled and the bulls are ready to take over hence there is a clear upside breakout from the descending channel (right after the double bottom structure) indicating a bullish take over. The bulls where strong enough to break price out of the descending channel but are they strong enough to take price to new highs or to the moon?
