XRP Breaks Right Through Long-Term Resistance

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In Brief
  • -XRP has broken out from its May highs at $0.23, targeting the next resistance at $0.27.

  • -The price has been increasing alongside a parabolic ascending support line since July 16.

  • -XRP is likely in the fifth and final wave of an Elliott formation.

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On July 28, the XRP (XRP) price broke out from a long-term resistance area that had previously been in place since March 2019. As long as the price is trading above this level, the trend is bullish, with XRP likely to move towards the next resistance area outlined below. XRP's Long-Term Breakout Since the beginning of March 2019, the XRP price had been trading below the $0.230 area.
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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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