💲XRP silence before the breakout

💲XRP silence before the breakout

💲Over 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.

💲On XRP, the situation is a little different

💲The 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%

💲After 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.

💲Rising stock indices
and the fall of the dollar
resulted in a renewed influx of capital into higher-risk instruments such as cryptocurrencies.

💲As you can see XPR has not yet reacted to this breakout opportunity.

💲But I believe this could change in the coming days and we will see increases on one of these most popular cryptocurrencies.

💲Moving 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.

💲Assuming the uptrend continues in the coming days, we can expect a rebound even to the area of 0.7 per xrp.

💲Looking at this movement from the current level, this would be an increase of 51.6%.

💲If 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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