TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Ripple seems more weaker below 0.75 level: Elliott Wave analysis

Ripple seems more weaker below 0.75 level: Elliott Wave analysis
Gregor HorvatGregor HorvatWavetraders

There is no big changes in the Crypto market from yesterday. We are still looking for more downside pressure on most of the coins, but there's a chance for a slow and sideways consolidation before we will see more weakness.

Looking at the Bitcoin Dominance chart, we can see a sharp recovery back above channel resistance line, which suggests a bigger recovery at least in three waves. Well, seems like ALTcoins will probably stay weaker than Bitcoin in the next couple of days/weeks, so in a bear market, ALTcoins may lose more.

Bitcoin dominance intraday Elliott Wave analysis

Bitcoin Dominance Elliott Wave analysis

Ripple, XRPUSD looks to have a completed (A)-(B)-(C) correction in wave 2, so be aware of a bearish continuation within wave 3 as part of a five-wave cycle, especially if the price dips below 0.75 bearish confirmation level. In case if suddenly jumps back above 0.95 level, then alternatively next resistance for 2 can be in the 1.10 – 1.20 area.

Ripple intraday Elliott Wave analysis

Ripple Elliott Wave analysis

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

Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.

Author

Gregor Horvat

Gregor Horvat

Wavetraders

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

More from Gregor Horvat
Share:

Editor's Picks

XRP, ADA, and SOL are vulnerable to deeper losses

XRP, ADA, and SOL are vulnerable to deeper losses

The top altcoins, including Ripple, Cardano and Solana, are trading in the red as the broader cryptocurrency market faces downside pressure. The bearish pressure aligns with Citadel Securities' anticipation of a surprise Fed rate hike, which could reduce liquidity in high-risk assets, including crypto assets.

XRP and XLM extend correction as bearish pressure builds

XRP and XLM extend correction as bearish pressure builds

Ripple and Stellar remain under pressure on Tuesday after losing over 4% and over 5%, respectively, the previous day. In addition, weakening momentum indicators and deteriorating derivatives metrics suggest sellers remain in control, raising the risk of further downside for both altcoins. Derivatives data shows a slight bearish tilt.

Bitcoin risks losing $63,000 – FET, SHIB lead losses

Bitcoin risks losing $63,000 – FET, SHIB lead losses

Bitcoin edges lower on Tuesday, extending its losses of over 2% from the previous day. The broader crypto market suffered nearly $600 million in liquidations over the last 24 hours amid renewed sell-off pressure. Artificial Superintelligence Alliance and Shiba Inu have emerged as the worst-performing crypto assets in the same time period.

Pump.fun surges following rising revenue and social push

Pump.fun surges following rising revenue and social push

PUMP, the native crypto of token launchpad Pump.fun, saw double-digit gains on Monday, rising to nearly $0.00220, its highest level in about 11 weeks, before easing. The recent gains have stretched its 14- and 30-day performance above 38% and 50%, respectively.
Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.