XRP's $1.60 Breakout Proves Fleeting as Token Crashes Below $1.50

XRP's recent breakout above $1.60 proved short-lived as it crashed back below $1.50 on Thursday, despite fresh inflows into US exchange-traded funds (ETFs).

The token traded around $1.50 after reaching roughly $1.66 in the previous session, with what looked like a convincing breakout turning into a sharp reversal.

Crypto analyst Ali Martinez had identified $1.60 as a major resistance area before XRP reached it, and on-chain distribution data showed about 2.5 billion XRP had previously changed hands around that level, creating a sizeable cost-basis cluster where holders could be tempted to take profits.