Ripple crypto price news today: Elliott Wave technical analysis [Video]
|XRP/USD Elliott Wave technical analysis
Function: Trend Following.
Mode: Motive.
Structure: Impulse.
Current Wave: Wave 3.
Next higher degree direction: Bullish Continuation.
Invalidation level: Below Critical Support.
XRP/USD trading strategy – Daily chart:
XRP is positioned for a pivotal move into wave ③. Should the market successfully retrace to wave (2), the outlook remains strongly bullish with a potential rise targeting $3.88. It's important for traders to closely watch the Fibonacci retracement zone for potential entry points.
Trading strategies:
- Strategy type
-
- Swing Trade (Short-Term)
-
- Look for buying opportunities upon identifying reversal signals in the $2.27–$2.34 range.
- Risk management
-
- Set a stop-loss below $2.00 to guard against invalidation of the wave structure.
XRP/USD Elliott Wave technical analysis
Function: Trend Following.
Mode: Motive.
Structure: Impulse.
Current Wave: Wave 3.
Next higher degree direction: Bullish Continuation.
Invalidation level: Below Critical Support.
XRP/USD trading strategy – Four-hour chart:
XRP is gearing up to break into wave ③. If a retracement confirms wave (2), there's a solid probability of an upward move to $3.88. Traders are advised to monitor the price activity closely within the Fibonacci support zone.
Trading strategies:
- Strategy type
-
- Swing Trade (Short-Term)
-
- Monitor for buying signals in the $2.27–$2.34 range.
- Risk management
-
- A stop-loss should be placed below $2.00 to protect against potential structural breakdown.
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