XRP price breaks months-long downtrend with $1.50 in sight

XRP price extended its breakout above $1.40 on Aug. 21 as regulatory optimism, whale accumulation and forced short covering lifted the token from its recent $1.00 floor. Summary XRP price climbed roughly 20% in 24 hours and reached an intraday high of $1.43. Whales accumulated more than 300 million XRP over 96 hours, according to Ali Charts. The daily Supertrend turned bullish at $1.14 as Chaikin Money Flow rose to 0.17. Liquidation data places the next major pocket of leveraged positions between $1.43 and $1.48. XRP price action today According to data from crypto.news, XRP (XRP) price was trading near $1.39 at the time of writing after reaching $1.43. The token gained about 20% over the previous 24 hours, with its daily candle up 9.5% from an opening price of $1.27. The move marked a sharp reversal from the decline that pushed XRP to approximately $0.99 earlier this week. Buyers first reclaimed $1.10 before driving the price through resistance between $1.18 and $1.26. Breaking that band accelerated the rally because XRP had traded below it since its June sell-off. The token also cleared its May and July swing highs, ending a sequence of lower highs visible on the daily chart. The...