Elliott Wave Analysis: Ripple Is Eyeing 1.5 – 1.7 Area
Oct 19, 2021


We have to respect that Ripple looks quite bullish after it unfolded five waves up from June to September. However, we still see it as a wave A of a three-wave A-B-C rally, so after nice and clean pullback in wave B, seems like XRPUSD is ready to continue higher for wave C. And, because wave C is a motive wave, we can expect a new five-wave bullish cycle that can easily send the price back to September highs and 1.5 – 1.7 area. As you can see, currently it can be forming a nice bullish setup with subwaves (1) and (2) that can be now ready for a jump into wave (3), but only if the price manages to stay above 0.85 invalidation level!

Elliott Wave Analysis: Ripple Is Eyeing 1.5 – 1.7 Area by ew-forecast on TradingView.com


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