Elliott waves crypto analysis – Buyers gaining control

XRP –

Buyers gaining control

Wave Analysis

After a drastic decline in value, Ripple went below 0.7059 but has gone above it again. This is a possible false break below, and as long as the price remains above 0.7059, we expect a possible momentum to the upper side with the first target at 0.8348 and the next target at 1.0557. The anticipated bullish price rally should be impulsive in nature and could break above 1.0557 towards 5.000. This view can only be invalidated in case the price again breaks below 0.7059. If this is the case, then we’ll expect a possible drop towards 0.5257.

Trade Recommendations:

We’re long with the first target at 0.8349 and the next at 1.0557

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