Crypto market made a sharp recovery, but bulls are not confirmed yet, so for now we are still at no man's land. The key will be an upcoming intraday decline; if slow in three waves, then we can expect more upside next week, but a sharp and impulsive sell-off would mean that bears are still here.
As per Elliott Wave analysis Ripple, XRPUSD is coming nicely lower in the 4-hour chart, but into some key levels for wave (C) here in the 0.80 - 0.70 zone, so in case of XRP suddenly rebounds and starts recovering back above 1.25 region, then bulls are still in control. However, now when the price is still at the lows, we also have to be aware of a bearish continuation within wave (3) which can push the price even down to 0.50 area or lower.
Ripple 4h Elliott Wave Analysis Chart
Comments
Log in or sign up to join the conversation.