Elliott waves crypto analysis – Sell ripple below 0.4348


Sell ripple below 0.4348

Wave Analysis:

Just as in Ethereum and Bitcoin, Ripple has remained confined within the falling channel formation and could still continue to the lower side. As long as the price remains within this shape formation, we expect a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (E) and should first breakout below 0.4490-0.4348, before a clear move further to the lower side is seen. If you’re not already in a short position, you may want to wait for a break below 0.4430-0.4348 to confirm a rally to the lowerside.

Trade Recommendations:

Sell ripple below 0.4348 towards 0.3254

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