Elliott wave Ripple analysis

22 thg 2, 2022

The XRPUSD market is forming a global triple zigzag W-X-Y-XX-Z. Not so long ago, a linking wave XX was built in the form of a double zigzag [W]-[X]-[Y]. A downward trend is now visible, which is developing an impulse [1]-[2]-[3]-[4]-[5]. The last section of the chart shows the first half of the bearish impulse [3]. A component of this impulse, sub-wave (3), may end at level 0.577. This level is marked with a linking wave [X]. An approximate scheme of a possible future movement is shown in the chart.

Trading plan for XRPUSD today:
Sell 0.676, Take profit: 0.577.