Elliott waves crypto analysis – Short towards 0.5775

XRP –

Short towards 0.5775

Wave Analysis

Late last week, Ripple tried rallying higher but ended up losing against the US Dollar. We expect the recent rejection from 0.6796 to have marked the end of the impulsive wave (c), that the tremendous decrease to the lowerside is the unfolding of another impulsive five wave cycle and should first break below 0.5775. If this is the case, then we’ll expect a decline towards 0.1021 or even lower. This view can only be invalidated in case the price breaks above 0.6795, if this is the case, then we’ll expect a rally even higher.

Trade Recommendations

Short towards 0.5775

101% Double the volume

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