Elliott wave Ripple analysis

11 feb 2022

The XRPUSD market completed the down motive wave Y and started rising in the bullish linking wave XX, the second linking wave followed the Y wave. Wave XX is a double zigzag composed of sub-waves [W]-[X]-[Y]. The [Y] must have completed recently, and a new bearish trend started that should be developing over the next few weeks. There is forming impulse [1] composed of sub-waves (1)-(2)-(3)-(4)-(5). The impulse wave (3) should finish at a level of 0.760, the high marked by corrective wave (4), marked by the blue number.

Trading plan for XRPUSD today:
Sell 0.807, Take profit: 0.760.