Ripple - triangle pattern after the breakout

Looking at the XRPUSD chart we could spot a significant breakout to the upside. The price has reached the highest level since February 2020. The upper limit in the broken channel may be the first significant support area.

What is more, the price of XRP has been creating a potential symmetrical triangle pattern. This could be a trend continuation structure with the next possible target at 0,3481.

Also, the support may be set by the lower limit in the mentioned triangle pattern.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.

Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

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