Elliott waves crypto analysis – We’re short below 0.4725

XRP –

We're short below 0.4725

Wave Analysis

Instead of a rebound from 0.4725, Ripple has been rallying to the lowerside and is still pretty much bearish both on the daily and the weekly charts. As long as the price remains below 0.4725, we expect a possible momentum to the lowerside and should not go beyond 0.0790. If you’re not already in a short position, you should wait for a correction to the upperside to pick a low risk short position. Only a clear break above 0.4725 will mean looking for a low risk long position with an ultimate take profit at 2.87.

Trade Recommendations:

We’re short below 0.4725

101% Double the volume

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