2020 | R_BOYY en Binance Square

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2020

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Chart Description: On the $XRP chart on the monthly timeframe (1M), there is a strong indication of bullish potential supported by a stable price structure in the critical support area. The pattern that is seen resembles a harmonic formation with the potential for movement towards the main resistance level around $3.4458. If this pattern is confirmed, a price increase of more than 1,140% can occur, making this a strategic opportunity for the long term. Analysis Details: 1. Important Support and Resistance Levels: Main Support (Ideal Entry): $0.4116 as a crucial support level that is the basis for price increases. Extreme Support (Stop Loss): $0.0856 as the lower validation area (cut loss). If the price breaks below this level, the bullish trend becomes invalid. Resistance Target: $3.4458 is a long-term target, as well as a significant psychological level for taking profit. 2. Technical Pattern: This pattern shows the potential for the formation of a bullish harmonic pattern supported by the previous price decline which ended with a sharp reversal. There is a double bottom indicating the strengthening of the uptrend. 3. Trend and Forecast of Movement: The current trend is still maintained in a long-term bullish channel. If strong momentum continues, XRP has the opportunity to break through resistance above $3.4458, opening up opportunities to higher levels. 4. Trading Scenario: Entry Position: Enter in the area around $0.4116 (main support). Stop Loss: Place below $0.0856 to minimize risk if the trend turns bearish. Profit Target: The main target is at $3.4458 with a potential increase of up to 1,140%. 5. Risks and Considerations: Trading Volume: Make sure the volume supports the bullish movement to avoid false breakouts. Market Sentiment: Pay attention to macroeconomic developments and the latest news related to XRP, such as legal decisions or institutional adoption. Risk Management: Do not use more than 5-10% of the portfolio for this position. #BitcoinHashRateSurge #XRPUSDT🚨 #BinanceMegadropSolv

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