Altcoins News
By Sakamoto Nashi
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XRP's 80-Day Descending Channel. Since May 14, XRP has been locked inside a falling channel — a ceiling that keeps getting tested…
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Kbank, Ripple Custody, and the Infrastructure Angle. There's a structural piece worth noting. Kbank, which serves as Upbit's exclusive banking partner,…
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What Traders Are Watching Now. The 80-day channel is basically the whole story right now.
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XRP sat at $1.0732 on August 4, a 0.99% slide in 24 hours. Not dramatic. But the number hiding underneath that flat print is a lot more interesting.
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On Upbit and Bithumb — South Korea's two dominant crypto exchanges — bids within 1% of the spot price are outrunning asks by roughly two to one. That's not noise.
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Since May 14, XRP has been locked inside a falling channel — a ceiling that keeps getting tested and keeps holding. The 4% bounce off August lows is the latest attempt to crack it.
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For traders, the math is pretty clear. A daily close above $1.18 would break the channel pattern and probably open the door to $1.30 and beyond. A daily close below $1.
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Volume is the missing piece. Any breakout needs a 40% to 50% surge above the 7-day average to carry real weight. Without that, even a clean close above $1.18 could be a head fake.
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And that's the tension here. South Korean buyers are clearly positioning for upside. The rest of the market hasn't confirmed it yet.
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Related: XRP Bounces 4% From August Low as Korean Buyers Push Two-to-One Bid Ratio
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Meanwhile, traders who think XRP's $68 billion market cap limits how much asymmetric upside is actually left are apparently eyeing the presale space.
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But the comparison matters for context. XRP at $68 billion is a mature asset with a defined technical setup.
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The 80-day channel is basically the whole story right now. It's been the primary obstacle since mid-May, and every bounce — including this one — has so far failed to put in a…
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A breakout without volume is probably just noise. A breakdown below $1.07 would likely shake out the accumulators and send XRP back toward that $0.98 to $1.00 support band.
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Read also: Ripple Backs ZILO and Licuido as XRP Ledger Hits $4.06 Billion in Tracked Assets
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