XRP/USD Elliott Wave technical analysis

Function: Counter trend.

Mode: Corrective.

Structure: Triangle.

Position: Wave E

Direction next higher degrees: Wave 4 of impulse.

Details: Movement within the triangle pattern before the price declines again in wave 5.

XRP/USD trading strategy

Decreasing wave ((E)), which is the last wave in the triangle pattern before prices re-enter the uptrend. So wait for the correction to complete to join the trend again.

XRPUSD technical indicators

The price is below the MA200 indicating a downtrend, the wave oscillator is a bearish momentum.

XRP/USD Elliott Wave technical analysis

Function: Counter trend.

Mode: Corrective.

Structure: Triangle.

Position: Wave E

Direction next higher degrees: Wave 4 of impulse.

Wave cancel invalid level: 0.486.

Details: Movement within the triangle pattern before the price declines again in wave 5.

XRP/USD trading strategy

Decreasing wave ((E)), which is the last wave in the Triangle pattern before prices re-enter the uptrend. So wait for the correction to complete to join the trend again.

XRPUSD technical indicators

The price is below the MA200 indicating a downtrend, the wave oscillator is a bearish momentum.

XRP/USD Elliott Wave technical analysis [Video]


As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.

Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.

The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.

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