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XRP Price Breakout Confirmed, But Top Trader Flags Key Risk
A major breakout has been confirmed in the Ripple’s native cryptocurrency XRP as it has broken out above $2.72, a level that had capped price action for over half a year. This significant move has left many traders and investors optimistic about the future prospects of the currency.
However, top trader DonAlt has warned against getting too carried away with this breakout, citing an increased risk level for XRP as it approaches higher levels. In his latest update on July 18, DonAlt cautioned that while he is sticking to his plan, which includes a long-term goal of $6.90, the risks associated with such an extended move should not be ignored.
The breakout has been accompanied by a strong follow-through in the daily chart, indicating a clear upswing for XRP. This move was anticipated by DonAlt as part of his strategy, but he stresses that patience and position sizing are more important now than ever.
Source: u.today
