Ripple Elliott Wave technical analysis [Video]

Ripple Elliott Wave analysis – Daily chart

• Function: Follow Trend.

• Mode: Motive.

• Structure: Impulse.

• Position: Wave 3.

• Direction next higher degrees:

• Wave cancel invalid level:

XRP/USD trading strategy

After a long correction phase in wave (2) from April, XRP recently delivered a bullish reversal. The price has broken above the $2.30 bullish level, signaling the potential start of wave (3).

This formation not only confirms the end of the Zigzag correction of wave (2), but also presents a buying opportunity for traders anticipating the correction's conclusion.

Trading strategies

• Strategy

  • Short-Term Traders (Swing Trade): Consider entering when price moves past the bullish level and consolidates briefly.

• Risk management

  • Stop-loss: Set below $2.05.

 XRP/USD Elliott Wave technical analysis – Four-hour chart

• Function: Follow Trend.

• Mode: Motive.

• Structure: Impulse.

• Position: Wave 3.

• Direction next higher degrees:

• Wave cancel invalid level:

XRPUSD trading strategy

XRP has regained upward momentum after pausing in wave (2) since April. A break above the bullish level of approximately $2.30 confirms wave (3) may be in progress.

The structure implies wave (2) completed as a Zigzag, presenting a buying opportunity for traders who waited for this signal.

Trading strategies

• Strategy

  • Short-term traders (swing trade): Look to enter following the breakout and consolidation.

• Risk management

  • Stop-loss: Place below $2.05.

Ripple Elliott Wave technical analysis [Video]