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Lipped crankbaits determine how deep the crank will run. Lipless on the other hand will run at different depths depending upon how long you wait for it to sink before you start your retrieve and also how fast the retrieve is.
 

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That's true, but there are even floating and suspending lipless cranks. But most do sink. The nice thing about fishing regular cranks is if you get hung up on something a lot of times if you let the line go slack it will float back up to the surface. :wink:
 
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