Ripple slowed down for a correction within uptrend [Video]

Gregor Horvat Wavetraders

Ripple with ticker XRPUSD is in strong and impulsive rise after we spotted a bullish break out of a larger bullish triangle pattern and there can be easily space up to 3,3 all-time highs area. We talked about that already back in 2023.

Looking at the 4-hour time frame of Ripple, we saw a nice extension higher within wave (3) and there can be space up to 3,30 all-time highs area to complete a five-wave impulse, so after current wave (4) correction that is testing 2021 highs resistance as a support, be aware of another push to the upside for (5).

XRPUSD 4H Chart

Crypto market slows down, but XRPUSD made nice and clean intraday flag pattern, an A-B-C correction in wave (4) that is testing the strong support around 2,0 area and from where we can see a bullish resumption within wave (5). Confirmation is above channel resistance line and 2,65 level.

XRPUSD 1H Chart

For more analysis like this, you may want to watch below our latest recording of a live webinar streamed yesterday on Monday December 09 2024:

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

Author

Gregor Horvat

Wavetraders

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

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

Legal Text

Markets move fast. We move first.

Editor's Picks