XRP’s Bullish Trade Setup Shows Potential for 1:2 Risk/Reward Ratio

Quick Summary:

This prolonged sideways movement has formed a bullish trade setup in Ripple’s native token XRP, with an ideal risk-to-reward ratio.

Currently, XRP’s daily chart has formed one shoulder and the head, while the other shoulder is in formation.

As of now, XRP’s major liquidation levels are near $0.553 on the lower side and $0.575 on the upper side, according to the on-chain analytic firm Coinglass.

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Article Details

Author / Journalist: Zameer Attar

Category: Crypto

Markets: United States

Topics: Price Analysis Crypto news News Ripple (XRP)

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-17 @ 15:19:09 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: coinpedia.org

Language: English

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Copyright Owner: © Coinpedia

News ID: 22117865

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