XRP/USD Elliott Wave technical analysis [Video]
|XRP/USD daily chart – Elliott Wave count
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Function: Trend.
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Mode: Motive.
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Structure: Impulse.
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Position: Wave 3 of 3.
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Direction: Ongoing Uptrend.
Analysis details
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The internal wave count is structured clearly: Wave 1 – Double Zigzag Wave 2 – Developing Wave 3.
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Wave 2 retraced to a low of $1.9095, establishing the correction base.
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Wave 3 is progressing with strong momentum, breaking above Wave 1's high ($2.6623).
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Next Fibonacci resistance levels:
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0.236 = $3.2392.
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0.382 = $2.9994.
(These levels may act as a short-term pullback area within Wave 3).
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Trading strategy
- For short-term traders (swing trade):
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If holding, consider partial profit-taking near $4.20.
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Use a “Buy the Dip” approach by waiting for a Wave 4 retracement before entering Wave 5.
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Invalidation point:
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If the price drops below $2.23, the current Elliott Wave count will need reevaluation.
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XRP/USD four-hour chart – Elliott Wave count
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Function: Counter Trend.
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Mode: Corrective.
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Structure: Zigzag.
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Position: Wave 4 of 3.
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Direction: Corrective within an Uptrend.
Analysis details
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Wave (1) to (5) within Wave 3 is now completed.
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Price is consolidating to form Wave 4.
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Key consolidation zones:
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0.236 Fib retracement = $3.2392.
- 0.382 Fib retracement = $2.9994.
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(These levels suggest a possible entry for Wave 5 if price holds in this range)
Trading strategy:
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For short-term traders (swing trade):
- Holding positions? Consider profit-taking around $4.20.
- Use the “Buy the Dip” strategy – wait for Wave 4 pullback before entering Wave 5.
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Invalidation point:
- If price falls below $2.23, wave structure must be reassessed.
XRP/USD Elliott Wave technical analysis [Video]
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