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.