Elliott Wave Analysis TradingLounge Daily Chart, 9 June 23,  

Ripple/U.S.dollar(XRPUSD)

XRPUSD Elliott Wave Technical Analysis 

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 5

Direction Next higher Degrees: wave (1) of Motive

Details: Wave 5 is usually equal to .618 multiplied Length of wave 1 through wave 3

Wave Cancel invalid level: 0.41001

Ripple/U.S.dollar(XRPUSD)Trading Strategy: Ripple is still in an uptrend. But it was in a phase of correction in wave 4 before rising again in wave 5, in line with price being above the MA200 line, showing a strong uptrend. But even so, we need more information to identify wave 4 patterns to determine readiness for rising wave 5, wait for wave 4 to finish.

Ripple/U.S.dollar(XRPUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator has a Bullish momentum.

(Click on image to enlarge)

Elliott Wave Analysis TradingLounge 4H Chart, 9 June 23,  

Ripple/U.S.dollar(XRPUSD)

XRPUSD Elliott Wave Technical Analysis 

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 5

Direction Next higher Degrees: wave (1) of Motive

Details: Wave 5 is usually equal to .618 multiplied Length of wave 1 through wave 3

Wave Cancel invalid level: 0.41001

Ripple/U.S.dollar(XRPUSD)Trading Strategy: Ripple is still in an uptrend. But it was in a phase of correction in wave 4 before rising again in wave 5, in line with price being above the MA200 line, showing a strong uptrend. But even so, we need more information to identify wave 4 patterns to determine readiness for rising wave 5, wait for wave 4 to finish.

Ripple/U.S.dollar(XRPUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator has a Bullish momentum.

(Click on image to enlarge)

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