XRP –
Wave Analysis:
After bouncing from the 4 hour support level 0.4478, Ripple traded intensely to the upperside and even went above the upper trendline and is still pretty much above this trendline. As long as this supportive trendline protects the lowerside, we expect a possible rally to the upperside. The anticipated bullish price rally will be an onset to an impulsive five wave cycle and should first break above 0.5414 before a move further to the upperside is seen. This view can only be invalidated in case the price breaks below 0.4478, and even then, we’ll still wait for another break below 0.4134 to confirm that we’re short.
Trade Recommendations:
We’re long towards 0.5414.
101% Double the volume
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