Elliott waves crypto analysis – waiting

XRP –

Wave Analysis

After an attempt break below 0.4478, Ripple rallied higher and has now gone above the upper trend line. We’re waiting for a clear breakout above this trend line to pick a low risk position with an ultimate target at 0.5414. The anticipated bullish price rally is the unfolding of an corrective five wave cycle and should breakout above the 4 hour resistance level 0.6735 towards 0.9165 or even higher. This view will only be rendered futile in case the price breaks below 0.4478, and even then, only a break below 0.4134 will call for a short position.

Trade Recommendation.

We’re waiting for a clear buy position

101% Double the volume

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