E Ripple - XRPUSD Is Searching For A Bottom

  • Crypto markets are still in a recovery mode
  • Fed decision is important next Crypto direction
  • XRPUSD eyes are lower for wave "v" of C.  

The Crypto market is still in an intraday recovery mode, but with very slow price action, so seems like bulls have hard times pushing it higher.

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As you can see, Cryptos recovered in three legs A-B-C only for now, so if wave C is finished then the price action will probably stay slow and sideways within a projected triangle pattern in the 4h charts. 

However, in case if Crypto bulls manage to stay up and strong, then we would be looking for a five-wave rally as part of flat corrections. Today is a very important Fed meeting which might be key for the next Crypto direction.

As per Elliott Wave, We are still tracking a five-wave decline in XRPUSD within wave C, where current consolidation can be as part of a bearish triangle in wave "iv" before we may see another push to the downside for wave "v" of C.

Ripple - XRPUSD Elliott Wave Analysis Chart

xrpusd Elliott Wave analysis

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.

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