Elliott waves crypto analysis – Remain long towards 1.000

XRP –

Remain long towards 1.000

Wave Analysis

During the previous trading week, ripple traded massively to the upper side and is still pretty much bullish both on the daily and the weekly charts. On Friday, the price went above a short term resistance level 0.6491, retraced back to it before taking off to the upper side. As long as the price remains above 0.6491, we expect a possible momentum to the upper side. The anticipated bullish price is the continuation of the impulsive wave (c) to the upper side and should break above 0.9470 towards 1.000. At the moment, only buying is recommended, however, should the price get below 0.6491, then we may consider short positions.

Trade Recommendation

Remain long towards 1.000

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