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XRP Price Breakout Confirmed, But Top Trader Flags Key Risk
Ripple’s XRP has confirmed a breakout, and it seems like the token is not slowing down. According to top trader DonAlt, this move needs to be treated with care once it gets extended. The market veteran posted an update on July 18, stating that he will be holding onto his position rather than overtrading this situation.
This price action has been a long time coming for XRP, as it had been stagnant between $2.05 and $2.72. Now that the breakout is confirmed, the daily chart indicates strong follow-through. This setup was exactly what DonAlt had been waiting for, but he urges investors to exercise caution.
DonAlt’s previous targets were already at $6.90, and with XRP trading above $3.60, it seems like this target could be met sooner than expected if it reaches the $3.84 mark from the last cycle. However, there are significant risks involved in investing during this rally.
Source: u.today
