Elliott wave Ripple analysis

15 feb 2022

The XRPUSD market must have completed the linking wave XX as a double zigzag [W]-[X]-[Y]. Next, the market has turned down and started forming a new bearish wave. There must be developing the initial part of a descending impulse. The first impulse [1] must have finished, and the price is rising in correction [2], unfolding as a zigzag (A)-(B)-(C). This zigzag should end at a level of 0.874, where wave [2] will retrace impulse [1] by 76.4%.

Trading plan for XRPUSD today:
Buy 0.819, Take profit: 0.874.