XRP / TetherUS
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๐Ÿ’ฒXRP silence before the breakout

๐Ÿ’ฒXRP silence before the breakout

๐Ÿ’ฒOver the past few days we have seen cryptocurrencies wake up from accumulation and we have seen most of them break out beautifully. Breaking through local resistance lines.

๐Ÿ’ฒOn XRP, the situation is a little different

๐Ÿ’ฒThe start of the breakout occurred on 7 September from levels of 0.32 to 0.56 within 2 weeks. The range of this impulse was 79%
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๐Ÿ’ฒAfter which we cooled the atmosphere and started to accumulate. Falling double to the 50% level of the upward wave, from where the price was pulled up again.
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๐Ÿ’ฒRising stock indices
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and the fall of the dollar
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resulted in a renewed influx of capital into higher-risk instruments such as cryptocurrencies.

๐Ÿ’ฒAs you can see XPR has not yet reacted to this breakout opportunity.

๐Ÿ’ฒBut I believe this could change in the coming days and we will see increases on one of these most popular cryptocurrencies.

๐Ÿ’ฒMoving to the weekly chart, we can see that the price reacted perfectly and stopped at the 0.236 level of the downward wave of the biggest correction.
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๐Ÿ’ฒAssuming the uptrend continues in the coming days, we can expect a rebound even to the area of 0.7 per xrp.

๐Ÿ’ฒLooking at this movement from the current level, this would be an increase of 51.6%.

๐Ÿ’ฒIf we place the foot under the last accumulation holes after the first break-out, i.e. in the area of 0.38, the risk reward ratio is 2.91, which is very good.
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