Elliott waves crypto analysis – Only Ripple below 0.4478.


Only Ripple below 0.4478.

Wave Analysis

During the previous trading day, Ripple rallied lower and even established a support around 0.4478. As long as the price is contained above this level, we expect this rebound to have marked the end of the impulsive wave (v), that any clear movements to the upperside will be the unfolding of a corrective three wave cycle but should not breakout above the upper trendline. But should the price break below 0.4478, then we’ll expect a rally to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (v) but should not go beyond 0.23.

Trade Recommendation:

Only Ripple below 0.4478.

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