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Title: XRP Price Breakout Confirmed, But Top Trader Flags Key Risk
The price of Ripple’s native cryptocurrency, XRP, has finally confirmed a breakout above the crucial resistance level of $2.72, marking a significant milestone for the asset. This move has been anticipated by many traders and analysts, who have been waiting for the right moment to enter long positions.
According to well-known trader DonAlt, this sudden surge is not without its risks. In his latest update on Twitter, he stated that while the technical aspect of the breakout looks strong, he cannot help but flag a key risk associated with it. It seems that XRP has reached $3.60 for the first time in over two years.
DonAlt’s plan remains unchanged, as he continues to point towards a long-term goal of $6.90. This sudden move above the mentioned resistance level may have caught some off guard, but experts warn against getting overly excited without considering the potential risks.
To clarify, the market does not seem to be following any traditional pattern this year. In fact, all signs indicate that we are witnessing a fundamental shift in the crypto landscape. This breakout is a direct result of these changes, as the asset now stands at $3.84, which was previously the last cycle’s highest level.
In light of this sudden growth, DonAlt emphasizes caution and advises traders to not get caught up in the excitement without properly considering the risks involved.
Source: u.today
