XRP deleveraging meets rising spot demand – Clean breakout structure forming?

What: XRP's market structure is currently characterized by a clean breakout structure, indicating a potential shift in investor sentiment.
Why: The deleveraging of XRP's market has led to a decrease in short positions, while rising spot demand suggests a growing interest in the asset.
Signal: The clean breakout structure is a bullish signal, indicating a potential increase in price.
Target: The target for XRP's price increase is potentially around the **$1.50** level, based on the breakout structure.
Risk: The risk of a pullback remains, but the clean breakout structure suggests that the trend is likely to continue upward.