Elliott wave Ripple analysis

18 thg 2, 2022

The XRPUSD market is forming the global triple zigzag W-X-Y-XX-Z. The linking wave XX have completed as a double zigzag [W]-[X]-[Y] more than a week ago. There is developing a down wave as an impulse [1]-[2]-[3]-[4]-[5]. Correction [2] has finished as a simple zigzag with the final wave (C) completed as an ending diagonal. Therefore, there should be developing bearish impulse [3]. The Ripple price could be falling to a level below 0.720, the low marked by the linking wave X.

Trading plan for XRPUSD today:
Sell 0.781, Take profit: 0.720.