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Elliott Wave Analysis TradingLounge Daily Chart

XRP/ U.S. dollar(XRPUSD)

XRPUSD Elliott Wave Technical Analysis 

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave C

Direction Next higher Degrees: wave (II) of Impulse

Wave Cancel invalid level: 

Details: Wave II Is equal to 61.8% of Wave I at 5.225

Ripple/ U.S. dollar(XRPUSD)Trading Strategy:
Decreasing wave ((E)), which is the last wave in the Triangle pattern before prices re-enter the uptrend. So wait for the correction to complete to join the trend again.

Ripple/ U.S. dollar(XRPUSD)Technical Indicators:
The price is below the MA200 indicating a downtrend. The Wave Oscillator is a Bearish Momentum.

Elliott Wave Analysis TradingLounge H4 Chart

XRP/ U.S. dollar(XRPUSD)

XRPUSD Elliott Wave Technical Analysis 

Function: Counter Trend

Mode: Corrective

Structure: Triangle

Position: Wave E

Direction Next higher Degrees: wave 4 of Impulse

Wave Cancel invalid level: 0.486

Details: Movement within the triangle pattern before the price Declines again. in Wave 5

Ripple/ U.S. dollar(XRPUSD)Trading Strategy:
Decreasing wave ((E)), which is the last wave in the Triangle pattern before prices re-enter the uptrend. So wait for the correction to complete to join the trend again.

Ripple/ U.S. dollar(XRPUSD)Technical Indicators:
The price is below the MA200 indicating a downtrend. The Wave Oscillator is a Bearish Momentum.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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