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Ripple: Intraday consolidation is pointing higher

Ripple: Intraday consolidation is pointing higher
Gregor HorvatGregor HorvatWavetraders

US CPI came above the expectations, which cause some USD strength as US yields moves to 2%, but the buck did not rally much. Flows quickly slowed down, most likely because inflation is not a surprise anymore so data is already priced in the markets. 

At the same time, cryptos did not see much sell-off. Looking at ripple, it can be a fourth wave consolidation with more upside potential while the market is above 0.6880.

Grega

Chart

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Author

Gregor Horvat

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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