Elliott Wave Analysis | TradingLounge Daily Chart |
XRP/U.S. Dollar (XRPUSD)

XRPUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave 2
Direction Next Higher Degrees:
Wave Cancel Invalid Level:

XRP/U.S. Dollar (XRPUSD) Trading Strategy
Following XRP's rebound from the Wave (II) low at $1.7260 and completing a full Wave ① structure, the price is now consolidating within Wave ②. It is expected to complete around the Fibonacci 0.5–0.618 retracement zone, potentially setting up the start of Wave ③, which could become the strongest movement in the sequence.

Trading Strategies
Strategy

Short-Term Traders (Swing Trade)

✅ If the price enters the $1.86–$1.94 range and shows a reversal, it may present an opportunity to join Wave ③.

Risk Management

🟥 Should the price fall below $1.55 → Wave (II) would remain incomplete, indicating the larger corrective move is still in play and would require reassessment.

Elliott Wave Analysis | TradingLounge H4 Chart |
XRP/U.S. Dollar (XRPUSD)

XRPUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave 2
Direction Next Higher Degrees:
Wave Cancel Invalid Level:

XRP/U.S. Dollar (XRPUSD) Trading Strategy
After rebounding from the Wave (II) bottom at $1.7260 and completing a Wave ① formation, XRP is currently consolidating in Wave ②. This correction could complete between the Fibonacci 0.5–0.618 levels before beginning a strong Wave ③ movement.

Trading Strategies
Strategy

Short-Term Traders (Swing Trade)

✅ If the price moves into the $1.86–$1.94 range and reverses, it could signal the entry into Wave ③.

Risk Management

🟥 If the price declines below $1.55 → The larger Wave (II) would still be active, necessitating a review for a deeper correction.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA
 

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