Elliott Wave Analysis – XRPUSD Outlook

XRPUSD Daily Chart – Elliott Wave Count

• Function: Trend
• Mode: Motive
• Structure: Impulse
• Position: Wave 3 of 3
• Direction: Ongoing Uptrend

Analysis Details:

• The internal wave count is structured clearly: Wave 1 → Double Zigzag Wave 2 → Developing Wave 3
• Wave 2 retraced to a low of $1.9095, establishing the correction base
• Wave 3 is progressing with strong momentum, breaking above Wave 1's high ($2.6623)
• Next Fibonacci resistance levels:
• • 0.236 = $3.2392
  • 0.382 = $2.9994
    (These levels may act as a short-term pullback area within Wave 3)

Trading Strategy:

• For short-term traders (Swing Trade):
• • If holding, consider partial profit-taking near $4.20
  • Use a “Buy the Dip” approach by waiting for a Wave 4 retracement before entering Wave 5
• Invalidation Point:
• • If the price drops below $2.23, the current Elliott Wave count will need reevaluation

XRPUSD 4-Hour Chart – Elliott Wave Count

• Function: Counter Trend
• Mode: Corrective
• Structure: Zigzag
• Position: Wave 4 of 3
• Direction: Corrective within an Uptrend

Analysis Details:

• Wave (1) to (5) within Wave 3 is now completed
• Price is consolidating to form Wave 4
• Key consolidation zones:
• • 0.236 Fib retracement = $3.2392
  • 0.382 Fib retracement = $2.9994
    (These levels suggest a possible entry for Wave 5 if price holds in this range)

Trading Strategy:

• For short-term traders (Swing Trade):
• • Holding positions? Consider profit-taking around $4.20
  • Use the “Buy the Dip” strategy – wait for Wave 4 pullback before entering Wave 5
• Invalidation Point:
• • If price falls below $2.23, wave structure must be reassessed

Analyst: Kittiampon Somboonsod, CEWA

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