Elliott waves crypto analysis – Conservative traders should wait

XRP –

Conservative traders should wait

Wave Analysis

Instead of a rally to the lower side, Ripple corrected itself slightly to the upper side but is still within the falling channel formation. And as we mentioned earlier, as long as the price is contained within this channel, we expect a possible momentum to the lower side, if you are a bit skeptic to pick a short position now, you could wait for a rebound from the upper trend line, or a break below 0.4430 to pick short position. The anticipated bearish price rally is the continuation of the impulsive wave (v) but should not go beyond 0.121.

Trade Recommendation.

Conservative traders could wait to sell ripple below 0.4490

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