Ripple Elliott Wave technical analysis [Video]

XRP/USD Elliott Wave technical analysis

• Function: Trend Continuation.

• Mode: Motive.

• Structure: Impulse.

• Current wave position: Wave 2.

• Next direction (higher degrees):

• Invalidation level for wave count:

XRP/USD trading strategy

XRP/USD is progressing in a new bullish wave, having formed Wave ① from a major support. It is now correcting within Wave ②, likely to complete inside the Fibonacci retracement region, setting the stage for Wave ③ to emerge strongly as a high-momentum impulse move.

Trading strategies

Strategy type

• Short-term swing traders
  • Watch for price action to bounce back between the 1.82 – 2.00 range.
• Risk management:
• • Place Stop Loss below 1.61911 to manage potential downside risk.

XRP/USD Elliott Wave technical analysis

• Function: Trend Continuation.

• Mode: Motive.

• Structure: Impulse.

• Current wave position: Wave 2.

• Next direction (higher degrees):

• Invalidation level for wave count:

XRP/USD trading strategy

A new upward trend has started for XRP/USD from a strong support base. Wave ① has completed, and Wave ② is underway, likely ending within the Fibonacci retracement zone. Wave ③ is projected to be a strong impulsive move with significant upward momentum.

Trading strategies

Strategy type

• Short-term swing traders
  • Wait for a reversal around the 1.82 – 2.00 zone.

Risk management:

• Stop Loss should be placed below 1.61911 to mitigate risk.

Ripple Elliott Wave technical analysis [Video]