Elliott waves crypto analysis – We’re short towards 0.2300


We're short towards 0.2300

Wave Analysis

Ripple continues to rally to the lower side but is still within the falling wedge formation. As we previous stated on our forecasts, as long as the price remains within the limits of the trend line forming the contracting wedge formation, we expect a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (E) and should break below 0.5105 towards 0.2300 or even lower. At the moment, this crypto is very bearish and buying it may not be recommended.

Trade Recommendations:

We’re short towards 0.2300.

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