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Ripple Elliott Wave analysis – Approaching highs

Ripple Elliott Wave analysis – Approaching highs
Gregor HorvatGregor HorvatWavetraders

Ripple completed a five wave rally on intraday chart so it's time for a new retracement in three legs. Support is at 1.0 psychological level.

XRPUSD is trading below 1.3131 level so technically trend is still down, but a break out of a downward channel and overlapping with red wave (B) on 4h time frame suggests that bulls are waking up. That been said, the price may travel higher in the short-term, maybe even back to 1.2434 spike (coinbase error) after 1.3131 is taken out.

Ripple 4h Elliott Wave analysis

Ripple Elliott Wave

Check more of our analysis for currencies and cryptos in members-only area. Visit EW-Forecast for details!

Author

Gregor Horvat

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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