Elliott wave Ripple analysis

15 дек. 2021 г.

The XRPUSD market is forming the down wave (Y), which will conclude the global double zigzag. Wave (Y) is unfolding as a simple zigzag A-B-C, with the first impulse wave A completed inside. There is developing the bullish correction B as a double zigzag [W]-[X]-[Y], where sub-waves [W]-[X] have completed, and the final motive wave [Y] has just started forming. Therefore, the Ripple price should be rising in wave [Y] to a level of 1.052, where wave B will retrace the A wave by 61.8%.

Trading plan for XRPUSD today:
Buy 0.812, TP 1.052