Ripple is still bullish despite the recent spike lower, which can act as a strong support from a technical and Elliott wave perspective.
Ripple is a blockchain-based digital payment protocol designed for fast, low-cost international money transfers. Its native cryptocurrency, XRP, helps facilitate transactions between different currencies, making cross-border payments quicker and cheaper compared to traditional systems like SWIFT.
Ripple sold-off recently and it made a huge spike lower due to the market manipulation, but these spikes usually act as a strong support. It still looks like a complex W-X-Y correction in wave IV on a daily chart, which can now resume the bullish trend within final wave V of (V).
In the 4-hour chart, we can see a massive spike down, but out of wave (B) triangle pattern, so it’s a penultimate move into wave (C) of Y. With the current strong rebound and recovery, seems like bulls are back in the game, and it looks to be forming a bullish setup with waves 1 and 2. So watch out for further rally within wave 3 of a five-wave bullish cycle, especially if jumps back into 2.7 area and later above 3.10 bullish confirmation level.
Ripple is a blockchain-based digital payment protocol designed for fast, low-cost international money transfers. Its native cryptocurrency, XRP, helps facilitate transactions between different currencies, making cross-border payments quicker and cheaper compared to traditional systems like SWIFT.
Ripple sold-off recently and it made a huge spike lower due to the market manipulation, but these spikes usually act as a strong support. It still looks like a complex W-X-Y correction in wave IV on a daily chart, which can now resume the bullish trend within final wave V of (V).
In the 4-hour chart, we can see a massive spike down, but out of wave (B) triangle pattern, so it’s a penultimate move into wave (C) of Y. With the current strong rebound and recovery, seems like bulls are back in the game, and it looks to be forming a bullish setup with waves 1 and 2. So watch out for further rally within wave 3 of a five-wave bullish cycle, especially if jumps back into 2.7 area and later above 3.10 bullish confirmation level.
액티브 트레이드
Ripple is still consolidating within wave 2, which can be a complex (W)(X)(Y) correction in wave 2. It can be now actually completed, as we see a nice rebound from the key 1.80 support area, so watch out for a bullish continuation within wave 3, just keep in mind that bullish confirmation is only above channel resistance line and 2.6 area.
Join the community for one week, full access. Its free >> @ wavetraders.com/elliott-wave-plans/
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
👉 bit.ly/3FVPVzO
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
👉 bit.ly/3FVPVzO
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
Join the community for one week, full access. Its free >> @ wavetraders.com/elliott-wave-plans/
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
👉 bit.ly/3FVPVzO
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
👉 bit.ly/3FVPVzO
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.