Elliott Wave Technical Analysis: Ripple Crypto Price News For Thursday, June 19

Elliott Wave Analysis – TradingLounge | Daily Chart

Ripple / U.S. Dollar (XRPUSD)

XRPUSD Elliott Wave Technical Analysis

Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave 2
Direction Next Higher Degrees: Pending confirmation
Wave Cancel Invalidation Level: $1.613

Ripple / U.S. Dollar (XRPUSD) Trading Strategy

XRP reached a peak of $2.656 in May and has been undergoing a correction phase. From the Elliott Wave perspective, this correction is identified as wave ② within a larger upward trend. Currently, the price appears to be in the final segment of the corrective wave (C).

Trading Strategies

Strategy Outline:
- ✅ For Short-Term Traders (Swing Trade):
  Watch for a possible reversal around the $1.83 area. A recovery from this zone may signal the beginning of wave ③ in the bullish direction.
Risk Management:
- 🟥 Critical Level:
  If the price falls below $1.613, the current wave structure becomes invalid and must be reassessed.

Elliott Wave Analysis – TradingLounge | H4 Chart

Ripple / U.S. Dollar (XRPUSD)

XRPUSD Elliott Wave Technical Analysis

Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave 2
Direction Next Higher Degrees: Pending confirmation
Wave Cancel Invalidation Level: $1.613

Ripple / U.S. Dollar (XRPUSD) Trading Strategy

Following XRP's surge to $2.656 in May, a corrective movement has been unfolding. This correction, in Elliott Wave terms, is part of wave ② of a broader bullish trend and appears to be approaching its concluding stage within wave (C).

Trading Strategies

Strategy Outline:
- ✅ For Short-Term Traders (Swing Trade):
  Consider a potential buy opportunity if a reversal occurs near the $1.83 area, aligning with the next upward wave ③.
Risk Management:
- 🟥 Critical Level:
  A move below $1.613 nullifies the current wave scenario, requiring immediate reassessment.