Ripple Elliott Wave technical analysis [Video]
|Ripple Elliott Wave analysis – Daily chart
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Function: Follow Trend.
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Mode: Motive.
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Structure: Impulse.
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Position: Wave 3.
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Direction next higher degrees:
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Wave cancel invalid level:
XRP/USD trading strategy
After a long correction phase in wave (2) from April, XRP recently delivered a bullish reversal. The price has broken above the $2.30 bullish level, signaling the potential start of wave (3).
This formation not only confirms the end of the Zigzag correction of wave (2), but also presents a buying opportunity for traders anticipating the correction's conclusion.
Trading strategies
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Strategy
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Short-Term Traders (Swing Trade): Consider entering when price moves past the bullish level and consolidates briefly.
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Risk management
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Stop-loss: Set below $2.05.
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XRP/USD Elliott Wave technical analysis – Four-hour chart
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Function: Follow Trend.
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Mode: Motive.
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Structure: Impulse.
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Position: Wave 3.
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Direction next higher degrees:
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Wave cancel invalid level:
XRPUSD trading strategy
XRP has regained upward momentum after pausing in wave (2) since April. A break above the bullish level of approximately $2.30 confirms wave (3) may be in progress.
The structure implies wave (2) completed as a Zigzag, presenting a buying opportunity for traders who waited for this signal.
Trading strategies
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Strategy
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Short-term traders (swing trade): Look to enter following the breakout and consolidation.
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Risk management
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Stop-loss: Place below $2.05.
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Ripple Elliott Wave technical analysis [Video]
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