Elliott waves crypto analysis – temporarily in sellers territory

XRP –

temporarily in sellers territory

Wave Analysis

During the previous trading day, Ripple went lower than expected and is currently trading below a key hourly support level .0.8491, as long as the price remains below this level, we expect a possible momentum to the lower side with our target set at 0.7050, this view looks good while the price is below 0.8491, however, in case of a break above 0.8491, a buy position will be more ideal, with an ultimate target at 1.000. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upper side with an ultimate target at 1.5000.

Trade Recommendations:

As long as the price remains below 0.8491, expect a momentum to the lowerside towards 0.7050.

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