XRP continues to respect the broader Elliott Wave structure, with price now pulling back within a higher-timeframe 5th wave ending diagonal.
The larger bullish sequence remains intact, and the current decline is being viewed as wave 4 of that diagonal. This retracement is moving into the marked buy zone, where wave 4 is expected to complete before the final wave 5 advance begins.
Ending diagonals still unfold in 5 waves, and that is the key focus here. Rather than viewing this current drop as the end of the move, the structure suggests it is the final pullback before one more push higher into completion of the larger pattern.
The monthly chart is mapping out the broader path. From here, the focus is on letting wave 4 complete in the buy zone, then using lower-timeframe confirmation for entry into wave 5 higher. I will likely post a lower-timeframe update to refine the exact setup once price moves further into position.
Trade Idea:
Entry: Lower-timeframe trendline break once wave 4 completes in the buy zone
Stops: Below the completed wave 4 low / below the confirmation structure
Targets:
TP1: $3.50
TP2: $5.00
Optional runner: Keep a portion open in case price pushes further into the upper diagonal boundary
Goodluck and as always, trade safe!
The larger bullish sequence remains intact, and the current decline is being viewed as wave 4 of that diagonal. This retracement is moving into the marked buy zone, where wave 4 is expected to complete before the final wave 5 advance begins.
Ending diagonals still unfold in 5 waves, and that is the key focus here. Rather than viewing this current drop as the end of the move, the structure suggests it is the final pullback before one more push higher into completion of the larger pattern.
The monthly chart is mapping out the broader path. From here, the focus is on letting wave 4 complete in the buy zone, then using lower-timeframe confirmation for entry into wave 5 higher. I will likely post a lower-timeframe update to refine the exact setup once price moves further into position.
Trade Idea:
Entry: Lower-timeframe trendline break once wave 4 completes in the buy zone
Stops: Below the completed wave 4 low / below the confirmation structure
Targets:
TP1: $3.50
TP2: $5.00
Optional runner: Keep a portion open in case price pushes further into the upper diagonal boundary
Goodluck and as always, trade safe!
Nota
XRP Weekly Chart
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Want more breakdowns like this? Links below:
📊 Free analysis (Telegram):
t.me/Wicktator
t.me/Crypto_Wick
⭐ VIP - Forex, Gold, Bitcoin:
t.me/WicktatorVIP_bot
📊 Free analysis (Telegram):
t.me/Wicktator
t.me/Crypto_Wick
⭐ VIP - Forex, Gold, Bitcoin:
t.me/WicktatorVIP_bot
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.