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.
การซื้อขายยังคงดำเนินอยู่
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
การนำเสนอที่เกี่ยวข้อง
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน
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
การนำเสนอที่เกี่ยวข้อง
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน