Ripple is in strong and impulsive rise after we spotted a bullish break out of a larger weekly bullish triangle pattern. It's actually already at 2.9 area and there can be easily space up to 3.3 all-time highs area. Looking at the 4-hour time frame, we saw a nice extension higher within wave (3), so after current wave (4) correction that can be completed as a nice and clean A-B-C flag pattern with textbook support from 2021 highs, be aware of another push to the upside for (5).
Just in case if Ripple stay sideways for a longer period of time, then we might even consider a bullish triangle pattern in wave (4), but sooner or later we can expect further rally within wave (5) towards all-time highs area.
Why XRP Is higher?
The reason for this push higher on ripple, which has been outperforming in the last few weeks, is the upcoming launch of Ripple USD (RLUSD). Ripple USD (RLUSD) is a new stablecoin aimed at bridging blockchain and traditional finance. "Designed for enterprise use, RLUSD focuses on stability, efficiency, and transparency, enhancing Ripple’s cross-border payments and meeting the demand for USD transactions".
Just in case if Ripple stay sideways for a longer period of time, then we might even consider a bullish triangle pattern in wave (4), but sooner or later we can expect further rally within wave (5) towards all-time highs area.
Why XRP Is higher?
The reason for this push higher on ripple, which has been outperforming in the last few weeks, is the upcoming launch of Ripple USD (RLUSD). Ripple USD (RLUSD) is a new stablecoin aimed at bridging blockchain and traditional finance. "Designed for enterprise use, RLUSD focuses on stability, efficiency, and transparency, enhancing Ripple’s cross-border payments and meeting the demand for USD transactions".
交易开始
Ripple keeps consolidating, but looks like a bullish triangle pattern in wave (4) and it can be now in final subwave E before a bullish breakout for wave (5).
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Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
👉 bit.ly/3FVPVzO
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
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相关出版物
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这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。