Elliott Wave Technical Analysis: Ripple, Oct. 19

Elliott Wave Analyst - tradinglounge • Oct 19, 2022 at 3:44 AM EDT

The price of Ripple has a chance to form a triangle and tends to come down to test the MA200 line which is an important support trading during this period. However, the price is above the MA50 and MA200 lines and the trend is bullish.

Ripple (XRP-X)

XRPUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Triangle

Position: Wave (4)

Direction Next higher Degrees: Impulse wave ((1))

Details: Lateral movement of wave 4 tends to form a triangle as wave 2 is a flat pattern, waiting for clarity.

Wave Cancel invalid Level: 0.418

Ripple (XRPUSD) Trading Strategy: The price has a chance to form a triangle. and tends

to come down to test the MA200 line which is an important support trading during this period

You may have to wait for the triangle pattern to finish.

Ripple (XRPUSD) Technical Indicators: The price is above the MA50 and MA200 lines, MACD is above the Zero line, and the trend is bullish.

Tradingelounge analyst Kittiampon Somboonso

Ripple (XRPUSD)

XRPUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Triangle

Position: Wave (4)

Direction Next higher Degrees: Impulse wave ((1))

Details: Lateral movement of wave 4 tends to form a triangle as wave 2 is a flat pattern, waiting for clarity.

Wave Cancel invalid Level: 0.418

Ripple (XRPUSD)Trading Strategy: The price has a chance to form a triangle. and tends to come down to test the MA200 line which is an important support trading during this period.

You may have to wait for the triangle pattern to finish.

Ripple (XRPUSD)Technical Indicators: The price is above the MA200 lines, But below the MASO slow down in the uptrend, MACD is below the Zero line, and the trend is bearish.

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