Elliott Wave analysis for Ripple

21 thg 2, 2022

A global triple zigzag W-X-Y-XX-Z continues forming as part of the XRPUSD's structure. Linking wave XX has recently formed as a double zigzag [W]-[X]-[Y]. We can see now a downtrend that suggests an impulse [1]-[2]-[3]-[4]-[5]. A zigzag-shaped correction [2] is most likely completed. So, we see a bearish impulse [3] starting to form in the last segment of the chart. The chart above shows an approximate pattern of an eventual future movement. The price is expected to drop shortly below the low of 0.720 marked with linking wave X.

Trading plan for XRPUSD for today:
Sell 0.794, Take profit: 0.720.