Elliott wave Ripple analysis

16 feb 2022

In early February, the XRPUSD market finished forming the linking wave XX as a double zigzag composed of sub-waves [W]-[X]-[Y]. Next, the market turned down and started a new bearish wave. There must be developing a descending impulse. The first impulse sub-wave [1] has completed, and correction [2] is currently unfolding as a zigzag (A)-(B)-(C). This zigzag should finish at a level of 0.874, where wave [2] will retrace impulse [1] by 76.4%.

Trading plan for XRPUSD today:
Buy 0.830, Take profit: 0.874.