Elliott wave Ripple analysis

14 Şub 2022

The XRPUSD market must have completed the upward linking wave XX as double zigzag [W]-[X]-[Y]. The market has turned down and started forming a new bearish wave. There should be forming the initial part of the down impulse. The first impulse wave [1] finished, and the Ripple price is rising in correction [2] unfolding as a zigzag (A)-(B)-(C). The zigzag should finish at a level of 0.874, where wave [2] will retrace wave [1] by 76.4%.

Trading plan for XRPUSD today:
Buy 0.792, Take profit: 0.874.