CoinTelegraph
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You are a financial journalist writing for small retail crypto investors. Analyze the following news and generate an engaging article (at least 100 words), explaining the potential impact on the crypto market in a clear and objective way.
Summary:
XRP (XRP) price is eyeing a breakout from a classic chart pattern in the near future. XRP has been consolidating inside adescending triangle patternsince topping out at itsseven-year high of $3.40on Jan. 16. Ripple’s prolonged legal battle with the US Securities and Exchange Commission (SEC) since 2020 may be nearing a resolution.
Content:
XRP price can see significant gains in the near term due to improving technicals, Ripple’s new Dubai license, and a possible conclusion of its battle with the SEC. XRP (XRP) price is eyeing a breakout from a classic chart pattern in the near future after Ripple acquired its first-ever license in the Middle East. XRP has been consolidating inside adescending triangle patternsince topping out at itsseven-year high of $3.40on Jan. 16. After finding support from the triangle’s horizontal line at $2.00, the XRP/USD pair has left behind a sequence of higher lows over the last four days to its upper trendline, as shown in the chart below. XRP/USD daily chart. Source: Cointelegraph/TradingView XRP‘s price is now testing the triangle‘s upper trendline at $2.30, raising hopes of a daily candlestick close above this level. If this happens, XRP could rally toward the $3.00 psychological level, a critical supplier congestion zone that has rejected the price twice in recent times. A move past this l
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Fonte Original: https://cointelegraph.com/news/xrp-price-46-gains-after-ripple-secures-first-dubai-license
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